Terna S p A : Monthly Report 30/04/2024

Monthly Report on the Electricity System April 2024

Monthly Report on the Electricity System

April 2024

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Monthly Report on the Electricity System

April 2024

Energy

Balance

Sheets

page 5

Electricity System

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In April, electricity demand was 23,492 GWh, an increase compared to the same month of the previous year (+1.1%) and down compared to April 2022 (-4.2%). There was also a drop in foreign exchange (-28.9%) compared to the same month of 2023. In 2024, electricity demand (101,204 GWh) was higher compared to the same period in 2023 (+0.8%) but was lower compared to the cumulative figure for 2022 (-3.5%). The value of electricity demand was achieved with two more working day (20 vs 18), and with an average monthly temperature that was 1.5°C higher compared to April of last year. The adjusted figure results in no change (+0.0%). The annual trend of April 2024 (compared to April 2023) for the industrial electricity consumption index was positive (+1.0%) with raw data.

In March 2024, 34.2% of the electricity demand was met via production from Non- Renewable Energy Sources, 51.2% via Renewable Energy Sources and the remainder via foreign exchange. In April, production from Renewable Energy Sources increased (+43.8%) compared to the same month of the previous year. In 2024 the operating capacity of renewables increased by 2,356 MW. This value is 736 MW higher (+45%) compared to the same period of the previous year. In the first four months of 2024, photovoltaic operating capacity increased by 2,167 MW. During the same period of 2023 the increase was 1,419 MW, recording an increase of 748 MW (+53%). In the first four months of 2024, operating capacity increased by 209 MW. During the same period of 2023, the increase was 195 MW, which is an increase of 14 MW (+7%).

Electricity Market

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The April 2024 total for withdrawal programmes on the DAM was approximately €1.8 Bn, (-12%compared to the previous month and -36% compared to April 2023).

In April 2024, the spread between average bid-up and bid-down prices on the MSD was€94/MWh, (+8% compared to the previous month and -13%compared to April 2023). Total volumes increased compared to the previous month (+2%).

In April 2024, the spread between bid-up and bid-down prices on the MB was €138/MWh (+7% compared to the previous month and - 26% compared to April 2023. Total volumes increased compared to the previous month (+16%).

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Monthly Report on the Electricity System

April 2024

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Monthly Report on the Electricity System

April 2024

Energy Balance Sheets

Monthly Summary and Short-Term Analysis

In April, electricity demand was 23,492 GWh, an increase compared to the same month of the previous year (+1.1%) and down compared to April 2022 (-4.2%). There was also a drop in foreign exchange (-28.9%) compared to the same month of 2023.

In 2024, electricity demand (101,204 GWh) was higher compared to the same period in 2023 (+0.8%) but was lower compared to the cumulative figure for 2022 (- 3.5%).

Demand breakdown - coverage by sources

[GWh]	Apr 2024	Apr 2023	% 24/23	Jan-Apr 24	Jan-Apr 23 % 24/23

In April 2024, there was a notable increase in renewable

Renewable Hydro

Pumping Production(2)

Thermal

of which Biomass of which Hard Coal

Geothermal

Wind

Photovoltaic

Net Total Production

Pumping

Net Total Production for Consumption

of which RES (3) of which not RES

Import

Export

Net Foreign Exchange

Electricity demand(1)

4.534	1.524	197,5%	14.027	6.710	109,0%
213	168	26,8%	542	575	-5,7%
9.378	11.240	-16,6%	46.180	56.247	-17,9%
1.264	1.135	11,4%	5.169	5.049	2,4%
268	202	32,7%	1.323	6.245	-78,8%
438	442	-0,9%	1.788	1.756	1,8%
2.091	2.164	-3,4%	9.602	8.822	8,8%
3.703	3.098	19,5%	9.460	8.546	10,7%
20.357	18.636	9,2%	81.599	82.656	-1,3%
305	240	27,1%	774	821	-5,7%
20.052	18.396	9,0%	80.825	81.835	-1,2%
12.029	8.363	43,8%	40.046	30.883	29,7%
8.023	10.033	-20,0%	40.779	50.952	-20,0%
3.805	5.006	-24,0%	21.355	19.474	9,7%
365	170	114,7%	976	943	3,5%
3.440	4.836	-28,9%	20.379	18.531	10,0%
23.492	23.232	1,1%	101.204	100.366	0,8%

hydroelectric production (+197.5%) and an increase in photovoltaic production (+19.5%), while there was a decrease in thermal production (-16.6%) and wind production (-3.4%), and a slight decrease in geothermal production (-0.9%) compared to the same month the previous year.

In 2024, there was a change in exports, which increased (+3.5%) compared to 2023. The trend in total net production for consumption in April was up (+9.0%) compared to the same month

1. Electricity Demand = Net Total Production for Consumption + Foreign Balance
2. Pumping production is calculated assuming theoretical efficiency during the pumping phase
3. RES Production = Renewable Hydro + Biomass + Geothermal + Wind + Photovoltaic -

Source: Terna

in 2023

The value of electricity demand was achieved with two more working day (20 vs 18), and with an average monthly temperature that was 1.5°C higher compared to April of last year. The adjusted figure results in no change (+0.0%).

In the first four months of the year, national demand grew by 0.8% compared to the corresponding period of 2023 (+0.5% adjusted value).

The short-term data, adjusted for seasonal, calendar and temperature effects, recorded a slight decrease in electricity demand for April 2024 compared to March (-0.8%).

Demand - seasonality adjusted

The value, adjusted for seasonal, calendar and temperature effects, shows negative cyclical change (-0.8%).

Source: Terna

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Monthly Report on the Electricity System

April 2024

Energy Balance Sheets

IMCEI

The trend for April 2024 (compared to April 2023) was positive (+1.0%) based on the raw data; using the data adjusted for calendar differences, the change is -1.4%. In the first four months of the year, the index remained stationary (+0.4%).

IMCEI short-term analysis (2015 base = 100)

In April, the variation in the monthly index of Italian electricity consumption was positive, compared to April 2023

Source: Terna

The short-term data, adjusted for seasonal and calendar effects, showed a decrease in the industrial electricity consumption index in April 2024 (-1.7%) compared to March.

Monthly Industrial Electrical Consumption Index - IMCEI (2015 base = 100)

When adjusted for seasonal and calendar effects, the monthly figure for April was negative compared to the previous month

Source: Terna

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Monthly Report on the Electricity System

April 2024

Energy Balance Sheets

IMSER

The annual trend of February 2024 (compared to February 2023) increased by +4.9% with raw data. In the period January-February 2024, electricity consumption in the services sector had increased overall by +5.1% compared to 2023.

Monthly Service Sector Consumption Index (basis 2019 = 100)

In February, the change in the monthly index of Italian electricity consumption for the services sector was positive (+4.9%) compared to February 2023.

Source: Terna elaboration of data based on a sample of distributors

In detail, there was an increase in almost all the monitored categories as of February 2024: Professional, scientific and technical services, Transportation and storage, Information and Communications, Real Estate, Hotels, restaurants and bars, Public Administration and Defence, Trade, Finance and insurance, Education, Health and social care, Veterinary services and Other services.

In the first two months of the year 2024, the categories of Finance and insurance, Health and social care, Veterinary services and Transportation and storage decreased compared to 2023. There was an increase in all the other sectors.

IMSER sector analysis (basis 2019 = 100) - YOY change and annual cumulative contribution of the sectors

The cumulative figure for January- December 2024 was up by +5.1% compared to the same period in 2023.

Source: Terna elaboration of data based on a sample of distributors

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Monthly Report on the Electricity System

April 2024

Energy Balance Sheets

Energy Demand Mix

In April 2024, 34.2% of the electricity demand was met via production from Non- Renewable Energy Sources, 51.2% via Renewable Energy Sources and the remainder via foreign exchange.

In 2024, electricity demand was 101,204 GWh, 40.3% of which was met via production from Non-Renewable Energy Sources, 39.6% from Renewable Energy Sources and the remainder from the foreign balance.

Demand breakdown - coverage by sources

Coverage of demand from renewable sources grew from 36.0% in April 2023 to 51.2% in April 2024

In 2024 coverage of demand from non- renewables fell from 50.8% in 2023 to 40.3% in 2024

Source: Terna

2024 trend in demand breakdown and difference from 2023 and 2022

In 2024, electricity demand on the grid is higher than 2023 (+0.8%) and down compared to the cumulative figure for 2022 (-3.5%).

In 2024, energy production from renewable sources totalled 40.0 TWh, up compared to 2023 (+29.7%)

Source: Terna

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Monthly Report on the Electricity System

April 2024

Energy Balance Sheets

Details of Renewable Energy Sources

In April, production from Renewable Energy Sources increased (+43.8%) compared to the same month of the previous year. Specifically, there was a notable increase in renewable hydroelectric production (+197.5%), an increase in photovoltaic production (+19.5%) and a decrease in wind production (-3.4%).

RES Production - Breakdown

In April 2024, the greater contribution of renewable energy sources to the total is attributed to renewable hydroelectric production (37.7%) and photovoltaic production (30.8%)

In 2024 the ratio of renewable hydroelectric production increased while the contribution from the other sources decreased overall compared to 2023

Source: Terna

2024 trend in net production from RES and difference from 2023

In April 2024, production from RES represented 59.1% of total net national production, an increase compared to the same month in 2023 (44.9%).

In 2024, production from RES represented 49.1% of total net national production, an increase compared to the cumulative figure for 2023 (37.4%).

Source: Terna

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Monthly Report on the Electricity System

April 2024

Energy Balance Sheets

Historical Energy Balance Sheets

In 2024, total net production allocated for consumption (80,825 GWh) met 79.9% of national electricity demand (101,204 GWh).

2024 Historical Monthly Energy Balance Sheet

[GWh]	Jan	Feb	Mar	Apr May Jun	Jul	Aug Sep Oct Nov Dec Total
Renewable Hydro	3,033	2,606	3,855	4,534		14,027
Pumping Production (2)	64	106	158	214		542
Thermal	13,496	12,178	11,128	9,378		46,180		In 2024, net total
of which Biomass	1,332	1,231	1,343	1,264		5,169		production was down
of which Hard Coal	345	467	243	268		1,323
		(-1.3%) compared to the
Geothermal	458	432	460	438		1,788
Wind	2,802	2,295	2,414	2,091		9,602		same period in 2023, and
Photovoltaic	1,371	1,714	2,672	3,703		9,460		peak electricity demand
Net Total Production	21,224	19,331	20,687	20,357		81,599		was reached in January,
Pumping	92	151	226	305		774		with 26,721 GWh.
Net Total Production for Consumption	21,132	19,180	20,461	20,052		80,825
of which RES (3)	8,995	8,278	10,743	12,029		40,046
of which not RES	12,137	10,902	9,718	8,023		40,779
Import	5,868	6,258	5,424	3,805		21,355
Export	279	145	187	365		976
Net Foreign Exchange	5,589	6,113	5,237	3,440		20,379
Electricity demand (1)	26,721	25,293	25,698	23,492		101,204

Source: Terna

The developments in the monthly balance sheet for 2023 are provided below.

2023 Historical Monthly Energy Balance Sheet

[GWh]	Jan	Feb	Mar	Apr		May		Jun		Jul		Aug	Sep	Oct	Nov	Dec	Total
Renewable Hydro	2,053	1,530	1,604	1,524	4,145	4,878	4,402	3,884	3,546	3,269	4,125	3,284	38,244
Pumping Production (2)	135	99	172	168	136	95	104	160	100	137	129	95	1,530
Thermal	15,618	14,756	14,633	11,240	10,890	12,256	15,608	12,365	13,529	12,763	11,269	13,007	157,934
of which Biomass	1,366	1,200	1,349	1,135		1,201		1,233		1,342		1,317	1,273	1,274	1,207	1,212	15,108
of which Hard Coal	2,294	1,868	1,881	202		560		1,226		1,041		662	914	461	579	419	12,108
Geothermal	458	414	442	442	462	436	445	439	445	462	444	458	5,347
Wind	2,281	1,816	2,561	2,164	1,519	1,034	1,347	1,735	1,645	1,863	2,968	2,441	23,374
Photovoltaic	1,092	1,721	2,635	3,098	2,928	3,515	3,868	3,738	2,991	2,277	1,534	1,198	30,595
Net Total Production	21,637	20,336	22,047	18,636	20,080	22,214	25,774	22,321	22,256	20,770	20,469	20,483	257,023
Pumping	193	142	246	240	194	136	148	228	143	195	184	136	2,185
Net Total Production for Consumption	21,444	20,194	21,801	18,396	19,886	22,078	25,626	22,093	22,113	20,575	20,285	20,347	254,838
of which RES (3)	7,250	6,680	8,591	8,363	10,255	11,096	11,405	11,113	9,900	9,145	10,278	8,593	112,668
of which not RES	14,194	13,514	13,210 10,033	9,631	10,982	14,221	10,980 12,213 11,430 10,007 11,754	142,170
Import	5,080	4,943	4,445	5,006	4,615	3,546	4,651	3,657	3,908	4,987	4,810	4,924	54,572
Export	352	233	188	170	275	314	323	338	248	211	266	402	3,320
Net Foreign Exchange	4,728	4,710	4,257	4,836	4,340	3,232	4,328	3,319	3,660	4,776	4,544	4,522	51,252
Electricity demand (1)	26,172	24,904	26,058	23,232	24,226	25,310	29,954	25,412	25,773	25,351	24,829	24,869	306,090

In 2023, the month with the highest demand for electricity was July, with 29,954 GWh

Source: Terna

1. Electricity Demand = Net Total Production for Consumption + Foreign Balance
2. Pumping production is calculated assuming theoretical efficiency during the pumping phase
3. RES Production = Renewable Hydro + Biomass + Geothermal + Wind + Photovoltaic

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