During the third week of November 2024, electricity demand saw an increase across all major European markets compared to the previous week. The French market experienced the largest rise, with a 8.9% increase, continuing its upward trend for the fifth consecutive week. Other markets such as Spain, Portugal, Germany, and Italy also reported increases for the third straight week, with demand rising between 0.7% in Spain and 4.3% in Italy, AleaSoft reports.
The markets in the Netherlands, Belgium, and Great Britain reversed the declines observed in the previous week. The British market saw the second-largest increase, rising by 8.1%, while the Dutch and Belgian markets grew by 3.0% and 5.6%, respectively.
The average temperatures across the analyzed markets were lower compared to the previous week, with the Netherlands experiencing the largest drop of 4.4°C. France saw the smallest decline, with a drop of only 0.9°C. Other markets like Germany, Belgium, and Great Britain saw temperature decreases ranging from 2.1°C in Germany to 3.3°C in Great Britain. In contrast, the Iberian Peninsula saw slight increases in temperatures, with Spain up by 0.9°C and Portugal by 1.1°C. Italy’s temperatures remained relatively stable compared to the previous week.
Looking ahead to the last week of November, demand forecasts from AleaSoft Energy Forecasting indicate a decrease in electricity demand across most European markets. However, Spain, Germany, and Italy are expected to see continued increases in demand compared to the previous week, AleaSoft reports.
