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Energy consumption increases 2.5% in August

 

Energy consumption increased 2.5% year over year in August, boosted by the effect of temperatures above average values. At the end of August, the accumulated annual variation was 2.8%, or 1.8% when correcting for the effects of temperature and number of working days.

In August, the hydrological conditions remained favourable, with a hydrological index of 2.18 (historical average of 1), although this number is not especially relevant given the necessarily scarcely significant flows in August. Wind production recorded numbers below average for the month, with the corresponding capability index standing at 0.89 (historical average of 1). On aggregate, renewable production supplied 38% of the national consumption plus net exports. Foreign trade balance continues to favour exports, amounting to around 8% of the domestic consumption in August.

At the end of August, the annual hydropower capability index was 1.19 (historical average equal to 1), whereas the wind power capability index was 1.01 (historical average equal to 1), a number almost in line with the average values. From January to August, renewable production supplied 54% of consumption, broken down into 25% for hydropower, 23% for wind power, 5% for biomass and 1.6% for photovoltaics. Non-renewable production supplied the remaining 46% of consumption, with natural gas accounting for 26% and coal for 19%. Foreign trade balance favoured exports, amounting to 7% of national consumption.

In the natural gas market, the trend of consumption reduction continued, due to the drop in the electricity production segment, stemming from the greater availability of renewable energy seen this year. In August, total consumption recorded a variation of -12.6%, with a reduction of 27% in the electricity market and a growth of 2.9% in the conventional market. Since the beginning of the year, consumption of natural gas records a negative annual variation of 8.3%, stemming from the 28% decrease in the electricity market, partially offset by the positive evolution of 5% in the conventional segment.