03 July 2024

Renewables' share of consumption is the highest in 45 years

In the first six months of the year, renewable energy production supplied 82% of electricity consumption, the highest half-yearly contribution in 45 years. Hydroelectric power accounted for 39%, wind power 28%, photovoltaics 9% and biomass 6%. Production via natural gas accounted for 8%, with the remaining 10% corresponding to the import balance.

In the first half of the year, electricity consumption was 1.6% higher than in the same period last year, which is 2.5%, taking into account the effects of temperature and working days. The hydroelectric capability index was 1.33 (historical average of 1), wind 1.06 and solar 0.93.

In June, as a result of below normal temperatures, electricity consumption fell by 1.7%, although correcting for the effects of temperature and working days there was an increase of 0.7%. Also in June, renewable production supplied 57% of consumption, non-renewable production 4% and imported energy, which recorded the highest monthly balance ever, the remaining 39%.

Last month, the respective productivity indices were below the average values, 0.91 for hydroelectric, 0.92 for wind and 0.89 for solar.

In the natural gas market, there was a 40% year-on-year drop in consumption in June. While in the electricity generation segment the drop was 96%, in the conventional segment, which covers all other consumers, the reduction was 3.2%.

In the first half of the year, accumulated natural gas consumption fell by 19%, as a result of a 66% drop in the electricity market, partially offset by a 3.4% increase in the conventional segment. For the first half of the year, this was the lowest gas consumption since 2003.

In June, national supply was entirely from the Sines LNG terminal, with the balance of trade through the interconnection with Spain recording strong exports, equivalent to around 55% of national consumption.