Portugal's H1 demand down 9% YoY

摘要

Portuguese power demand in January to June was the lowest halfyear level since 2004, grid operator REN said July 1, following a 9% year-on-year decline in requirements for June. Power demand in the first half was down 5% year on year to 23.8 TWh after COVID-19 lockdown measures went into effect in mid-March, reducing industrial and commercial demand in both Portugal and neighboring Spain. While April and May saw 12% and 13% year-on-year declines in power demand respectively, the fall in June was less steep at 7% as measures were eased. Over the course of the first half, REN's hydro index fell to 0.78 for June from 0.96 for the H1 average as hydro generation increased 93% year on year to 7.5 TWh in January to June. This contributed to a 64% year-on-year hike in exports to Spain to 2.0 TWh in the period and an 11% drop in imports to 3.5 TWh, with Spain's market seeing reduced nuclear and thermal output.