As the global coronavirus pandemic continues to roil markets, plummeting demand for energy will radically affect prices, the chairman of the London Energy Club and advisory firm Global Resources Partnership has said.

Millions of people are staying in their homes to stem the spread of COVID-19 and this situation is causing a slowdown in electricity consumption, Mehmet Ogutcu told Anadolu Agency.

“Because we’re almost in recession, electricity consumption has decreased dramatically,” he said, adding that this decline would affect the green economy, renewable energy and long-term decarbonization efforts in the post-crisis period.

This decline mostly stems from contracting transportation,

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