Jan–Nov output reached 8.78k TWh (+3.5% YoY), supported by Nov’25 generation of ~779 TWh (+4% YoY).
The supply mix is shifting: hydro, nuclear and renewables rose +22% YoY to 282 TWh, easing thermal output to 497 TWh (-4% YoY). Despite this, coal production increased +5% MoM, reflecting efforts to secure adequate fuel for winter baseload supply.
Looking into Dec’25, heating demand could lift power consumption +10–15% MoM. Officials have even suggested that 2025 electricity use may exceed 10k TWh, surpassing the combined demand of the EU, Russia, India and Japan in 2024. For further insights, contact research@IfchorGalbraiths.com.