The Demand Rebound
Across 3 sectors, 4 filers are signaling rising demand. Visible since 2025Q2, with activity continuing through 2026Q1. Consensus hardened: 2025Q2 was 67% rising; 2026Q1 now 80%. Almost entirely a demand story (100%). Shifting from explaining to guiding — the narrative is turning forward. One disclosure notes "Customer demand and product sales increased in the first quarter of 2026, primarily attributable to customers accelerating purchases." Continuing to spread to more sectors.
Utility and retail customers are demonstrating sustained increased usage and shopping frequency, with favorable weather and economic conditions driving growth in both consumption volumes and customer acquisition.
DISTINCT NEW FILERS PER QUARTER
✦ WHAT THE DIFF CAUGHT
Signal mix shifts from weather-dependent volatility (NEE's falling demand offset by rising usage) to broad, cross-sector customer engagement momentum across utilities and consumer retail.
REPRESENTATIVE SIGNAL FROM FILINGS
“Customer demand and product sales increased in the first quarter of 2026, primarily attributable to customers accelerating purchases”
Customer demand and product sales increased in Q1 2026 primarily due to customers accelerating purchases.
“3% in shopping frequency in both the second quarter and first half”
Shopping frequency increased by approximately 3% in both Q2 and first half of 2026.
DRIVERS