(Bloomberg) -- Demand for electricity is bouncing back in upstate New York as lockdowns ease and the economy struggles to recover after being paralyzed for months by the coronavirus.
Power demand in the region around Albany has climbed about 2% above normal over the past week as some stores, factories and construction sites are allowed to reopen, BloombergNEF said in a report Wednesday.
Statewide demand remains about 10% below normal, as New York City remains under lockdown and many restaurants, offices and other businesses remain shuttered across the state.
New York state has been one of the hardest-hit regions in the U.S. in terms of electricity, with demand consistently 7% to 10% below normal since early April, according to BNEF.
©2020 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
