Monthly Report on the Electricity System May 2024
Monthly Report on the Electricity System
May 2024
2
Monthly Report on the Electricity System
May 2024
Energy
Balance
Sheets
page 5
Electricity System
page 14
Electricity Market
page 19
In May, electricity demand was 24,698 GWh, an increase compared to the same month of the previous year (+1.9%) and down compared to May 2022 (-5.6%). There was also a drop in foreign exchange (-13.0%) compared to the same month of 2023.
In 2024, electricity demand (125,902 GWh) was higher compared to the same period in 2023 (+1.1%) but was lower compared to the cumulative figure for 2022 (-3.9%). The value of electricity demand was achieved with the same number of working days (22) and with almost the same average temperature (0.4°C) as May last year. In adjusted terms the value is unchanged. The annual trend of May 2024 (compared to May 2023) for the industrial electricity consumption index was positive (+1.4%) with raw data.
In May 2024, 32.2% of the electricity demand was met via production from Non-Renewable Energy Sources, 52.5% via Renewable Energy Sources and the remainder via foreign exchange. In May, production from Renewable Energy Sources increased (+26.5%) compared to the same month of the previous year. In 2024 the operating capacity of renewables increased by 3,015 MW. This value is 896 MW higher (+42%) compared to the same period of the previous year. In the first five months of 2024, PV operating capacity increased by 2,768 MW. During the same period of 2023 the increase was 1,853 MW, recording an increase of 915 MW (+49%). In the first five months of 2024, operating wind capacity increased by 262 MW. During the same period of 2023, the increase was 247 MW, which is an increase of 15 MW (+6%).
The May total for withdrawal programmes on the DAM was approximately € 2.1 Bn, (+15% compared to the previous month and -10% compared to May 2023).
In May 2024, the spread between average bid-up and bid-down prices on the MSD was €96/MWh, (+2% compared to the previous month and -17% compared to May 2023). Total volumes decreased compared to the previous month (-2%).
In May 2024, the spread between bid-up and bid-down prices on the Balancing Market was146 €/MWh (+5% compared to the previous
month and +1% compared to May 2023). Total volumes increased compared to the previous month (+3%).
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Monthly Report on the Electricity System
May 2024
4
Monthly Report on the Electricity System
May 2024
Energy Balance Sheets
Monthly Summary and Short-Term Analysis
In May, electricity demand was 24,698 GWh, an increase compared to the same month of the previous year (+1.9%) and down compared to May 2022 (-5.6%). There was also a drop in foreign exchange (-13.0%) compared to the same month of 2023.
In 2024, electricity demand (125,902 GWh) was higher compared to the same period in 2023 (+1.1%) but was lower compared to the cumulative figure for 2022 (-3.9%).
Demand breakdown - coverage by sources
[GWh] | May 2024 | May 2023 % 24/23 Jan-May 24 | Jan-May 23 % 24/23 |
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)
5,586 | 4,145 | 34.7% | 19,613 | 10,856 | 80.7% |
171 | 136 | 25.9% | 713 | 711 | 0.4% |
9,299 | 10,890 | -14.6% | 55,479 | 67,137 | -17.4% |
1,277 | 1,201 | 6.3% | 6,446 | 6,250 | 3.1% |
245 | 560 | -56.2% | 1,568 | 6,805 | -77.0% |
442 | 462 | -4.3% | 2,230 | 2,218 | 0.5% |
1,678 | 1,519 | 10.5% | 11,280 | 10,341 | 9.1% |
3,990 | 2,928 | 36.3% | 13,450 | 11,474 | 17.2% |
21,166 | 20,080 | 5.4% | 102,765 | 102,736 | 0.0% |
245 | 194 | 26.3% | 1,019 | 1,015 | 0.4% |
20,921 | 19,886 | 5.2% | 101,746 | 101,721 | 0.0% |
12,973 | 10,255 | 26.5% | 53,019 | 41,139 | 28.9% |
7,948 | 9,631 | -17.5% | 48,727 | 60,582 | -19.6% |
4,183 | 4,615 | -9.4% | 25,538 | 24,089 | 6.0% |
406 | 275 | 47.6% | 1,382 | 1,218 | 13.5% |
3,777 | 4,340 | -13.0% | 24,156 | 22,871 | 5.6% |
24,698 | 24,226 | 1.9% | 125,902 | 124,592 | 1.1% |
In May 2024, renewable hydroelectric production (+34.7%), photovoltaic production (+36.3%) and wind production (10.5%) were up, while thermal production was down (-14.6%) compared to the same month the previous year.
In 2024, there was a change in exports, which increased (+13.5%) compared to 2023. The trend in total net production for consumption in May was up (+5.2%) compared to the same month in 2023
- Electricity Demand = Net Total Production for Consumption + Foreign Balance
- Pumping production is calculated assuming theoretical efficiency during the pumping phase
- RES Production = Renewable Hydro + Biomass + Geothermal + Wind + Photovoltaic -
Source: Terna
The value of electricity demand was achieved with the same number of working days (22) and with almost the same average temperature (0.4°C) as May last year. In adjusted terms the value is unchanged.
In the first five months of the year national demand increased by 1.1% compared to the corresponding period of 2023 (+0.2% adjusted value).
The short-term data, adjusted for seasonal, calendar and temperature effects, recorded a slight increase in May 2024 compared to April (+0.8%).
Demand - seasonality adjusted
When adjusted for seasonal, temperature and calendar effects, the figure for the period represents a slightly positive fluctuation (+0.8%)
Source: Terna
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Monthly Report on the Electricity System
May 2024
Energy Balance Sheets
IMCEI
The variation for May 2024 (compared to May 2023) was positive (+1.4%) based on the raw data; using the data adjusted for calendar differences, the change remains the same. In the first five months of the year, the index rose slightly (+0.6%).
IMCEI short-term analysis (2015 base = 100)
In May, the variation in the monthly index of Italian electricity consumption was positive, compared to May 2023
Source: Terna
The short-term data, adjusted for seasonal and calendar effects, showed an increase in the industrial electricity consumption index in May 2024 (+1.2%) compared to April.
Monthly Industrial Electrical Consumption Index - IMCEI (2015 base = 100)
When adjusted for seasonal and calendar effects, the monthly figure for May was positive compared to the previous month
Source: Terna
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Monthly Report on the Electricity System
May 2024
Energy Balance Sheets
IMSER
The annual trend of March 2024 (compared to March 2023) increased by +4.8% with raw data. In the period January-March 2024, electricity consumption in the services sector had increased overall by +5.0% compared to 2023.
Monthly Service Sector Consumption Index (basis 2019 = 100)
Source: Terna elaboration of data based on a sample of distributors
In detail, there was an increase in the following categories in March 2024: Hotels, restaurants and bars; Other services; Public Administration and Defence; Professional, scientific and technical services; Trade; Real estate; Information and communications. Meanwhile, there was a decrease in Finance and insurance; Education; Health and social care; Health services; and Transportation and storage.
In the first three months of the year 2024, the categories of Finance and insurance, Education, Health and social care, and Veterinary services 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
In March, the change in the monthly index of Italian electricity consumption for the services sector was positive (+4.8%) compared to March 2023
The cumulative figure for January- March 2024 was up by +5.0% 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
May 2024
Energy Balance Sheets
Energy Demand Mix
In May 2024, 32.2% of the electricity demand was met via production from Non- Renewable Energy Sources, 52.5% via Renewable Energy Sources and the remainder via foreign exchange.
In 2024, electricity demand was 125,902 GWh, 38.7% of which was met via production from Non-Renewable Energy Sources, 42.1% from Renewable Energy Sources and the remainder from the foreign balance.
Demand breakdown - coverage by sources
Coverage of demand from renewable sources grew from 42.3% in May 2023 to 52.5% in May 2024
In 2024 coverage of demand from non- renewables fell from 48.6% in 2023 to 38.7% 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 (+1.1%) and down compared to the cumulative figure for 2022 (-3.9%).
In 2024, energy production from renewable sources totalled 53.0 TWh, up compared to 2023 (+28.9%)
Source: Terna
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Monthly Report on the Electricity System
May 2024
Energy Balance Sheets
Details of Renewable Energy Sources
In May, production from Renewable Energy Sources increased (+26.5%) compared to the same month of the previous year. Specifically, there was an increase in renewable hydroelectric production (+34.7%), in photovoltaic production (+36.3%), and in wind production (+10.5%).
RES Production - Breakdown
In May 2024, the greater contribution of renewable energy sources to the total is attributed to renewable hydroelectric production (43.1%) 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 May 2024, production from RES represented 61.3% of total net national production, an increase compared to the same month in 2023 (51.1%).
In 2024, production from RES represented 51.6% of total net national production, an increase compared to the cumulative figure for 2023 (40.0%)
Source: Terna
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Monthly Report on the Electricity System
May 2024
Energy Balance Sheets
Historical Energy Balance Sheets
In 2024, total net production allocated for consumption (101,746 GWh) met 80.8% of national electricity demand (125,902 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 | 5,586 | 19,613 | |||||||
Pumping Production (2) | 64 | 106 | 158 | 214 | 172 | 713 | |||||||
Thermal | 13,496 | 12,178 | 11,128 | 9,378 | 9,299 | 55,479 | |||||||
of which Biomass | 1,332 | 1,231 | 1,343 | 1,264 | 1,277 | 6,446 | |||||||
of which Hard Coal | 345 | 467 | 243 | 268 | 245 | 1,568 | |||||||
Geothermal | 458 | 432 | 460 | 438 | 442 | 2,230 | |||||||
Wind | 2,802 | 2,295 | 2,414 | 2,091 | 1,678 | 11,280 | |||||||
Photovoltaic | 1,371 | 1,714 | 2,672 | 3,703 | 3,990 | 13,450 | |||||||
Net Total Production | 21,224 | 19,331 | 20,687 | 20,357 | 21,166 | 102,765 | |||||||
Pumping | 92 | 151 | 226 | 305 | 245 | 1,019 | |||||||
Net Total Production for Consumption | 21,132 | 19,180 | 20,461 | 20,052 | 20,921 | 101,746 | |||||||
of which RES (3) | 8,995 | 8,278 | 10,743 | 12,029 | 12,973 | 53,019 | |||||||
of which not RES | 12,137 | 10,902 | 9,718 | 8,023 | 7,948 | 48,727 | |||||||
Import | 5,868 | 6,258 | 5,424 | 3,805 | 4,183 | 25,538 | |||||||
Export | 279 | 145 | 187 | 365 | 406 | 1,382 | |||||||
Net Foreign Exchange | 5,589 | 6,113 | 5,237 | 3,440 | 3,777 | 24,156 | |||||||
Electricity demand (1) | 26,721 | 25,293 | 25,698 | 23,492 | 24,698 | 125,902 | |||||||
Source: Terna
In 2024, net total production remained steady compared to the same period in 2023, and peak electricity demand was reached in January, with 26,721 GWh.
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
- Electricity Demand = Net Total Production for Consumption + Foreign Balance
- Pumping production is calculated assuming theoretical efficiency during the pumping phase
- RES Production = Renewable Hydro + Biomass + Geothermal + Wind + Photovoltaic
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Terna Rete Elettrica Nazionale S.p.A. published this content on 31 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 June 2024 11:14:39 UTC.