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On August 26, the Shanghai branch of the Peoples Bank of China released the monetary and credit situation in the Yangtze River Delta region in July 2026. The data showed that RMB deposits in the Yangtze River Delta region increased by RMB 214.6 billion in July, RMB 448.8 billion more than the same period last year; RMB loans decreased by RMB 19.6 billion, RMB 151.6 billion less than the same period last year.On August 26th, Jiangsu Province issued the "Three-Year Action Plan for Promoting the High-Quality Development of the Biopharmaceutical Industry in Jiangsu Province." The plan includes improving and perfecting a diversified payment system. It encourages commercial health insurance and medical mutual aid programs to include innovative drugs in their coverage, and to optimize and strengthen affordable commercial health insurance programs such as "Jiangsu Medical Benefit Insurance." The medical insurance department will leverage the trusted data space of the medical insurance industry to cooperate with eligible commercial health insurance companies in areas such as data integration and application, and settlement and clearing. Cases involving the application of innovative drugs within the coverage of relevant commercial health insurance may be excluded from the disease-based payment scope and will be paid after review and evaluation.MINIMAX-W (00100.HK): The net loss attributable to owners of the parent company was US$358 million in the first half of the year, compared with a loss of US$402 million in the same period last year.Market news: Irans energy minister said that four power plants that were attacked at the beginning of the war have been rebuilt.MINIMAX-W (00100.HK): R&D expenditure in the first half of the year increased by 138.8% year-on-year, significantly lower than the revenue growth of 283.1%.

This week, Texas and U.S. Plains states will break new records for energy usage

Aria Thomas

Jul 20, 2022 11:21

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Regional electric grid operators stated on Tuesday that electricity usage in Texas and other Central U.S. states is expected to set new records in the coming days as families and businesses switch on air conditioners to combat the heat.


As temperatures in the United States hit triple digits and the cost of delivering electricity rises for utility companies, grid management have begun taking steps to ensure they have the capacity to satisfy rising demand.


The United States is projected to consume a record amount of electricity in 2022, primarily because of rising economic demand and population growth in Sun Belt states served by the Electric Reliability Council of Texas (ERCOT) and the Southwest Power Pool (NASDAQ:POOL) (SPP), as well as in the U.S. Southeast.


On Tuesday, the temperature is expected to reach 111 degrees Fahrenheit (44 degrees Celsius) in Oklahoma City, making it the hottest day in a decade. On Wednesday and Thursday, the temperature in Houston will hit 100 degrees Fahrenheit (38 degrees Celsius). According to government data, the average temperature in both cities during this time of year is 94 degrees Fahrenheit (34 degrees Celsius).


On Monday, state environmental regulators granted ERCOT permission to allow power facilities to exceed the emission restrictions of their air license. ERCOT manages the system for nearly 90 percent of the state's energy usage, representing more than 26 million people.


Last week, ERCOT partially fulfilled demand by encouraging users to reduce their energy consumption in lieu of more harsh measures, such as rotating outages, to reduce consumption.


SPP, which operates the grid for over 18 million people in 17 states from North Dakota to Texas, has asked its members to postpone maintenance on critical assets including as transmission lines and power plants. In order to ensure the availability of resources during times of high demand, grid operators regularly implement this approach.


ERCOT said that Monday's preliminary power usage hit 79,039 megawatts (MW), exceeding July 12's previous high of 78,412 MW. Tuesday's power usage is forecast to hit 80,318 MW, while Wednesday's is projected to reach 81,480 MW.


On a hot summer day in Texas, one megawatt may provide electricity to over 200 homes.


Tuesday's power costs at the Dallas-serving ERCOT North Hub jumped from $144 to $220 per megawatt hour (MWh). This compares to an average of $74 for the first six months of this year, $141 for 2021, and $56 for the preceding five years (2017-2021).


Tuesday's power usage is expected to surpass the previous high of 52,028 MW established on July 15 by reaching 53,760 MW.


The severe weather is reminiscent of the February freeze of 2021, which left millions of Texans without electricity, water, and heat for days in the midst of a deadly storm, as ERCOT tried to prevent a system collapse owing to an extremely high number of generators shutting down.

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