(Alliance News) - Terna Spa reported Wednesday that electricity consumption in Italy fell 1.4 percent in March compared to the same month in 2023. According to data from Terna, the company that operates the national transmission grid, electricity demand last month was 25.7 billion kWh.

The electricity demand figure, seasonally adjusted by the combined effects of calendar and temperature, reverses the sign of the change to plus 1.1 percent. This reversal was due to the presence of the "Easter effect" and two fewer working days, 21 instead of 23; in addition, the average monthly temperature was 0.6°C higher than in March 2023.

At the territorial level, the trend change in March was negative in the North and Center and basically stable in the South and Islands.

In the first three months of the year, national demand is up 0.7 percent compared to the corresponding period in 2023.

Last month, about 80 percent of Italy's electricity demand was met by domestic production and the remainder by the balance of energy traded with foreign countries.

The value of the monthly foreign balance was 5.2 TWh, 23% higher than in March 2023.

Specifically, the import-export balance, is the result of the combined effect of a 22 percent increase in imports and a nearly stationary export, down 0.5 percent.

In detail, the first quarter of 2024 saw a record high in imports, which covered 22% of the national demand of 17 TWh, due to the effect of average price differentials compared to the main European exchanges.

Net domestic production was 20.7 billion kWh. Renewable sources covered 42% of electricity demand from 33% in March 2023. Up 140% hydro source, photovoltaic by 1.4% and geothermal by 4.1%.

Down by 5.7% wind source and also thermal source as a direct result of the growth of renewables and foreign imports: minus 24% compared to March 2023. In particular, the collapse of coal-fired production by 87% compared to the same period last year is observed.

In the first three months of 2024, the growth of renewables recorded in 2023 continued, amounting to 1,844 MW, including 1,721 MW of PV. This is 633 MW higher by 52 percent compared to the same period last year.

Terna's stock trades in the red by 0.8 percent at EUR7.54 per share.

By Chiara Bruschi, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.