Market News

    China forecasts moderate-or-stronger El Nino, warns of tighter energy, fuel squeeze

    China might have to burn more fossil fuels this year as ​meteorologists forecast a moderate-or-stronger El Nino weather event in the summer ‌and autumn, which could disrupt operations at hydropower stations across the region at a time when fuel supplies from the Middle East are disrupted.
    China's National Climate Centre expects El ​Nino conditions to emerge in May and said an El Nino ​event would last at least through the end of the ⁠year, according to an analysis published by the China Meteorological Administration over ​the weekend.t
    El Nino is a natural weather pattern linked to a warming of ​the central and eastern Pacific, bringing heavier rainfall to the Pacific coast of the Americas. In the Western Pacific, the shift can disrupt the East Asian monsoon, raising the odds ​of flooding in southern China and drought in other Chinese regions.
    Flooding caused ​by a severe El Nino event can damage power grid infrastructure, while both excessive rainfall ‌and ⁠drought can require hydropower dams to reduce or even halt output, senior meteorologist Wang Yaqi said in the CMA's analysis. El Nino can have a severe impact on hydropower-dependent regions, Wang added.
    Source : reuters