In the first week of January, electricity consumption surged across key European markets, driven by colder weather conditions. Italy led the demand increase with a notable rise of 19%, while other countries such as Spain, Germany, Belgium, Great Britain, and Portugal experienced growth rates between 11% and 17%. Portugal recorded the highest increase within this range. This uptick in demand marks a continuation of an upward trend for many markets, with the Iberian Peninsula reversing previous declines observed in late December. France’s demand increased modestly by 8.2%, achieving its fourth consecutive week of growth.
The surge in electricity usage can be attributed to a significant drop in average temperatures across most regions. Temperature declines varied from 0.2°C in Great Britain to 1.8°C in Germany, which heightened heating requirements and subsequently boosted electricity consumption. Conversely, France experienced a slight moderation in demand growth due to average temperatures being 0.5°C higher than the previous week.
Forecasts from AleaSoft Energy indicate that the upward trend in electricity demand is expected to persist into the week of January 12, particularly in Germany, Spain, and Italy. However, contrasting trends are anticipated for France, Portugal, Great Britain, and Belgium, where demand is projected to decline. This divergence highlights varying consumption patterns across Europe as markets respond differently to climatic conditions.
