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Thursday, February 25, 2010

Electric power generation was in good moments

Value added of "electric energy, gas and water" grew by 6.7% from January to September 2009. Electric power generation grew by 8.6% from January to October. Residential electricity consumption grew by 12.6% in the same period due to the growth of condominiums in Panama City, which have air conditioners and other electrical appliances, moreover due to the boom in domestic demand. Panama Economy Insight expects to moderate the residential consumption in 2010. In 2010, hydraulic electricity generation could decrease due to the phenomenon of "El Niño". After 2010, generation capacity should be substantially expand to cover a rapid expansion of demand. Panama Economy Insight forecasts that demand will grow by 10.3% and 8.9 % in 2011 and 2012 respectively.

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