In the week of December 23, electricity demand across most major European markets declined for the second consecutive week, largely due to reduced work activity associated with the Christmas holidays. The Italian market saw the largest drop, with demand falling by 20% for the third week in a row. Germany and the Iberian markets (Spain and Portugal) also experienced notable declines, with demand in Germany down by 16% and in both Spain and Portugal down by 14%. Other key European markets, including France and Belgium, saw demand decreases of 3.1% and 9.8%, respectively. The only exception was the Dutch market, where demand rose by 7.1%, reversing the previous week’s decline.
In the final week of 2024, average temperatures dropped across all the analyzed markets compared to the previous week, with decreases ranging from 0.3°C in Italy to 5.2°C in Germany.
Looking ahead to the week of December 30, AleaSoft Energy Forecasting predicts a rise in electricity demand in several markets, including Germany, France, Italy, Spain, Belgium, the Netherlands and the UK. However, demand in Portugal is expected to continue its downward trend, AleaSoft reports.
