(Alliance News) - According to data from Terna Spa in May, electricity demand was 24.7 billion kWh, up 1.9 percent from May 2023.

This positive change, which only partially recovers last year's May figure in which a 7.4 percent decline was recorded, was achieved with an equal number of working days, 22, and an average monthly temperature substantially in line with May 2023.

The figure for electricity demand, seasonally adjusted for calendar and temperature effects, was unchanged from May a year earlier, confirming a slower pace of growth due to a slight recovery in industry of 1.4 percent and a more brisk recovery in services.

Spatially, May's trend change was up 1.8 percent in the North and Center, 2.3 percent in the South and Islands.

In the first five months of the year, national demand is up 1.1 percent compared to the corresponding period in 2023.

Last month, about 85 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 is 3.8 TWh; on a progressive level, from January to May 2024, net import is up by 5.6 percent.

In detail, net domestic production was 21.2 billion kWh. Renewables covered 52% of electricity demand from 42% in May 2023.

This is the highest value on a monthly basis ever.

Increasing hydro source by 35%, photovoltaic by 36% and wind by 11%.

The increase in photovoltaic production is due to the combined effect of increased capacity in operation and increased irradiation. Down by 4.5 percent was geothermal and thermal by 15 percent as a direct result of the growth in renewables. In particular, in May, coal-fired generation covered about 1 percent of total demand. As of early 2024, coal's contribution remains below 2% of national demand.

The acceleration of renewable energy penetration continues. In fact, renewable capacity in operation, in the first five months of 2024, is up 42% compared to the same period last year. In detail, the increase was 3,015 MW.

Terna drops 1.0 percent to EUR7.57 per share.

By Chiara Bruschi, Alliance News reporter

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