Italian renewables output climbs 29% in March, self-consumption hits record

Italian renewable power generation increased 29% year on year in March to 9.2 TWh, jumping from 37% to 52% of the monthly domestic supply stack over the period, market operator GME reported April 15.

Italian domestic generation was squeezed during the month, falling 8% year on year to 17.6 TWh, as imports and self-consumption (largely own generation by industry, notably ceramics) both increased in annual comparisons. An early Easter holiday also contributed to weaker internal demand.

The day-ahead (MGP) market was oversupplied in March as a result, GME said, with offered volume of 45.5 TWh compared to matched volume of 23.1 TWh.

Strong renewables output through the European region saw Italy boost power imports from Switzerland in March by 69% year on year, while volume was also higher from Greece, Austria and Montenegro.

Italian self-consumption volume also increased 5% year on year to a record March high of 2.8 TWh.

Firming gas prices meant the benchmark PUN index was lifted Eur1.24/MWh from February to an average Eur88.86/MWh. GME's IG gas index edged up during the month from an average Eur27.72/MWh in February to Eur28.92/MWh in March.

Italian gas demand continued at its lowest in more than 15 years during March, GME said, with 59.9 TWh, or 5.7 billion cubic meters, consumed. Of the total , 47 TWh was imported via pipeline and 13 TWh via LNG terminals.

In its guarantees of origin exchange, meanwhile, GME reported an average price of non-denominated bilateral GOs of Eur3.14/MWh in March, up 82% year on year. Volume was 29.2 TWh, up more than threefold year on year.