Greece: Electricity demand in decline

, SEE Energy News

The coronavirus pandemic problem will inevitably affect overall demand and the financial results of retail electricity suppliers. Greek electricity consumption estimates for coming weeks are in decline because coronavirus situation is impacting the country’s energy-intensive industrial sector after tourism and retail sectors.

A number of industrial enterprises have already suspended their operations. These include steel company Sidenor, which has put a halt on production at five units, as well as four textile firms. More industrial companies are likely to follow suit as the ongoing lockdown keeps much economic activity grounded. As a result, overall electricity demand is expected to drop considerably over the next few months. However, the pandemic’s impact on low-voltage electricity demand has not been high, so far. Considerably lower consumption levels in the retail and trade sectors have been offset by higher household demand driven by the Government’s stay-at-home orders.

Low-voltage electricity consumption in March fell by between 1 and 2 %, but a sharper decline of approximately 5 % is expected in April.