Power sector: Thermal power dispatch optimized amid strong nationwide demand recovery
Posted: Jun 30, 2026
- 5M26 Power consumption increased 9% YoY, with particularly strong growth of ~12% YoY in 2Q26, driven by surging demand during heatwaves.
- Thermal power benefited from optimal dispatch, higher Qc allocations and improved margins as market prices recovered. Meanwhile, hydropower output declined slightly, while renewable energy dispatch remained stable.
- POW, QTP deliver the strongest recovery in core operating earnings. REE, HDG maintain stable performance, with earnings growth supported by a low comparison base. In contrast, NT2 and GEG are expected to record sharp YoY declines due to the high base in the same period last year.
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