The week of March 9 witnessed a notable uptick in electricity demand across several key European markets, attributed largely to a shift in weather patterns. After experiencing three weeks of decline, France reported the most significant increase in demand, rising by 4.7%. This rebound was mirrored in Germany and Belgium, where electricity consumption rose by 1.6% and 1.8%, respectively, following two consecutive weeks of reduced demand. Meanwhile, Portugal recorded a modest increase of 0.9%, marking its second consecutive weekly rise.
Contrastingly, several countries faced declining demand during the same period. Italy experienced the smallest drop at 1.6%, continuing a downward trend that has persisted for six weeks. More pronounced decreases were observed in Spain and Great Britain, with declines of 3.7% and 5.3%, respectively.
The fluctuations in electricity demand coincided with a general cooling trend across Europe, as average temperatures fell compared to the previous week. Notably, Belgium and France recorded the largest temperature drops, measuring at 2.4 °C and 1.9 °C, respectively. In contrast, Spain‘s temperature decrease was minimal at just 0.4 °C, while Great Britain‘s drop was slightly higher at 0.5 °C. Other countries maintained stable temperatures, with Italy‘s averages remaining unchanged and only a minor cooling of 0.2 °C noted in Germany.
AleaSoft Energy Forecasting has projected that for the third week of March, demand is expected to decline further in markets such as Great Britain, Spain, Italy, and Portugal. Conversely, increases in electricity consumption are anticipated for both France, Germany, and Belgium. These forecasts highlight the ongoing volatility within European electricity markets, influenced by both climatic conditions and regional consumption trends.
