In the week of October 28, electricity demand decreased across most major European markets compared to the previous week, with some exceptions. Italy experienced the largest decrease in demand, dropping by 9.5%. Portugal saw the smallest decline, with a 1.2% reduction. Other markets, such as Spain, Belgium and Germany, also saw demand decreases of 2.1%, 3.4%, and 4.4%, respectively. In Germany, this marked the third consecutive week of declining demand, while Spain and Portugal had their second consecutive week of decreases, AleaSoft reports.
On the other hand, demand increased in the Dutch, British and French markets. The Dutch market saw the most significant rise, with a 9.9% increase, marking the sixth consecutive week of rising demand. Great Britain and France registered increases of 5.0% and 2.5%, respectively. France’s increase was the second consecutive week of higher demand.
Across all analyzed markets, average temperatures were lower than the previous week. Italy saw the largest drop in average temperatures, with a 2.3°C decrease, while Great Britain had the smallest drop, at just 0.2°C. Spain, Portugal, Belgium, Germany, the Netherlands, and France saw drops ranging from 0.3°C in Spain to 2.0°C in France.
The All Saints’ Day holiday on November 1, which is a national holiday in Spain, Portugal, Italy, Belgium, and certain regions of Germany, contributed to a drop in demand across most of these markets. However, in France, where the holiday also took place, lower temperatures led to an increase in electricity demand.
For the first week of November, AleaSoft Energy Forecasting’s demand forecasts predict an overall increase in demand across the major European electricity markets analyzed, in comparison to the previous week, AleaSoft reports.
