As of March 9, recent data indicates a notable increase in electricity demand across several key European markets, reflecting the impact of colder temperatures. France has shown a significant rebound, marking a rise of 4.7% after experiencing three consecutive weeks of decline. Meanwhile, Germany and Belgium also reported increases in demand, with figures rising by 1.6% and 1.8%, respectively, following two weeks of reduced consumption. Portugal’s demand increased by 0.9%, continuing its upward trajectory for the second week.
Conversely, Italy, Spain, and Great Britain experienced declines in electricity demand during this period. Italy recorded the smallest reduction at 1.6%, extending its ongoing six-week downward trend. More substantial drops were observed in Spain and Great Britain, where demand decreased by 3.7% and 5.3%, respectively.
The colder weather has played a significant role in these fluctuations. Average temperatures fell across most analyzed markets, with Belgium and France experiencing the most significant drops at 2.4 °C and 1.9 °C. In contrast, Spain saw only a minor temperature decrease of 0.4 °C, while Great Britain recorded a 0.5 °C drop. Italy’s temperatures remained stable, and Germany noted a slight cooling of 0.2 °C.
<pLooking ahead to the third week of March, forecasts from AleaSoft Energy Forecasting suggest that demand may decline in Great Britain, Spain, Italy, and Portugal as temperatures continue to influence consumption patterns. In contrast, France, Germany, and Belgium are projected to see an uptick in electricity usage as they recover from previous declines.
