In the week leading up to December 22, electricity demand in Europe exhibited a notable decline across several key markets, reversing a previously observed upward trend. The Italian market experienced the most significant drop, with demand plummeting by 20%. Other countries such as Germany, Spain, Portugal, and the UK recorded decreases ranging from 8.2% to 11%, while Belgium saw a more modest decline of 4.7%. This reduction in demand is largely attributed to the upcoming Christmas festivities and the observance of St. Stephen’s Day on December 26 in certain regions.
Conversely, France reported a 9.3% increase in electricity demand compared to the previous week, driven by a drop in average temperatures by 5.0 °C. This trend reflects France’s sensitivity to temperature variations, which significantly impacts its energy consumption patterns. Other European markets also noted temperature declines, with Belgium experiencing the largest decrease at 7.7 °C, while Italy recorded a minimal drop of just 1.0 °C.
Looking ahead to the week of December 29, forecasts from AleaSoft Energy indicate an anticipated rebound in electricity demand for Germany, Spain, the UK, Belgium, and France, suggesting a reversal of the previous week’s downward trend. However, Italy and Portugal are projected to maintain lower levels of electricity consumption as they continue to grapple with reduced demand during this holiday period.
