01 March 2023

Consumption of electricity increases 3.1% in February

Electricity consumption recorded a year-on-year increase of 3.1% in February, which is lowered to 1.0% when correcting for the effects of temperature and number of working days. The annual change recorded an increase of 3.7%, or 2.4% with temperature and working days adjustments.

The hydropower capability index stood at 0.59 (historical average of 1) in February, the wind power capability index at 0.9, while the index was more favourable in photovoltaic generation, standing at 1.10. It should be noted that photovoltaic generation reached daily peaks close to 1500 MW, almost 500 MW higher than in the same period of the previous year.

In February, renewable generation supplied 66% of consumption, non-renewable generation accounted for 31%, while the remaining 3% were supplied using imported energy. On 26 February, the highest daily import balance ever was reached with 81 GWh (58% of the domestic consumption on that day).

In January and February, the hydropower capability index was 1.08, the wind power capability index was 0.98, and the solar capability index was 1.14. In these two months, renewable generation supplied 79% of consumption, split between hydroelectric with 41%, wind with 28%, biomass with 6%, and photovoltaics with 4%. Generation from natural gas supplied the remaining 21% of consumption, while the balance of trade with foreign countries favoured exports, albeit with a very low figure.

The natural gas market recorded a year-on-year decline of 1.6% in February, resulting from a reduction of 10.2% in the conventional segment, offset by the positive behaviour of the electricity generation segment, which recorded a year-on-year growth of 9.9%. Supply came primarily from the Sines LNG terminal, which accounted for 80% of the total, with the remaining 20% coming from the interconnection with Spain.

By the end of February, the accumulated annual consumption of natural gas recorded a negative variation of 17%, with a decrease of 6% in the conventional segment, as well as a drop of 31% in the power generation segment.


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