IBISWorld's analysts constantly monitor the industry impacts of current events in real-time – here is an update of how this industry is likely to be impacted as a result of the global COVID-19 pandemic:
error_outlineA decline in thermal coal prices due to reduced demand from Chinese manufacturers is expected to reduce the domestic electricity service price, contributing to a fall in revenue for electricity generators.
error_outlineThis trend is expected to improve the competitiveness of the Fossil Fuel Electricity Generation industry, in comparison with alternative electricity generators, and slow Australia's transition towards renewable electricity.
error_outlineChinese manufacturers feature heavily in the supply chain of many companies operating in the Wind and Other Electricity Generation industry, and Solar Electricity Generation industry.
error_outlineDisruptions to these supply chains from the spread of the COVID-19 virus have the potential to reduce the ability of these companies to carry out planned capacity upgrades, or source parts necessary for maintenance.
Note: The content in this report is currently being updated to reflect the trends outlined above.