(Alliance News) - In February, electricity consumption in Italy was up 1.6 percent compared to the same month in 2023. According to data from Terna Spa presented on Friday, electricity demand was 25.3 billion kWh.

In detail, 2024 is a leap year and February had an extra working day -- 21 instead of 20 -- and a monthly average temperature that was as much as 2.6 degrees Celsius higher than the same month in 2023. The figure for electricity demand, seasonally adjusted for the opposing effects of calendar and temperature, is essentially stable. At the territorial level, the trend change in February was positive everywhere: plus 2 percent in the North, plus 1.3 percent in the Center, and plus 0.7 percent in the South and Islands.

In the first two months of the year, national requirements are up 1.8 percent compared to the corresponding period in 2023.

The IMCEI index compiled by Terna, which looks at the industrial consumption of so-called 'energy-intensive' enterprises, showed a growth of 3.5 percent compared to February 2023. The index figure, seasonally adjusted for calendar effect, was stable. In detail, positive were the sectors of transportation equipment, papermaking, chemicals, nonferrous metals, food, and iron and steel; down were cement, lime and gypsum, ceramics and glass, and mechanical engineering.

In cyclical terms, the seasonally adjusted value of electricity demand adjusted by calendar and temperature effects is almost stationary compared to January 2024. Slightly positive sign for the IMCEI index, up 0.3 percent.

The IMSER index, which Terna publishes based on monthly electricity consumption data provided by some distribution grid operators, showed a positive change of 2.4 percent in December 2023 compared to December 2022. Overall, the change in 2023 from the previous year is negative by 1.2 percent.

This trend is determined by a comparison with a two-speed 2022 that shifted into 2023: in fact, the first half of the year was characterized by a decrease that continued until August, starting to show a recovery in the second half of the year, which, however, was not enough to close the year in the positive.

Returning to Terna's monthly balance, as of February 2024, 75.8 percent of Italy's electricity demand was met by domestic production and the remainder - 24.2 percent - by the balance of energy exchanged with foreign countries. The value of the monthly foreign balance was 6.1 TWh, 29.8 percent higher than in February 2023 - 4.7 TWh - and higher than the already very high value in January, confirming the increasingly strategic role of interconnections with foreign countries both for security and for the economy of the system. In particular, the import-export balance is the result of the combined effect of a 27 percent increase in imports and a 38 percent decrease in exports.

Terna's stock is up 0.6 percent at EUR7.68 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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