EU5 power demand for Q2 down 12% on year at 367 TWh

London — Demand across Europe's five largest electricity markets fell 12% on year in the second quarter of 2020 as coronavirus lockdowns restricted activity, data aggregated by S&P Global Platts Analytics showed July 2.

At 367 TWh, Q2 electricity demand across Germany, France, Italy, Spain and Great Britain was 52 TWh or 24 GW lower year on year, preliminary system operator data showed.

German Q2 power demand was seen 9% lower on year at 101 TWh, while the other markets registered double-digit declines.

On July 2, German utility lobby BDEW said German H1 demand was 5.7% lower on year at 272 TWh.

While lockdown measures are easing, a west European recession is expected to keep power demand significantly below last year's levels into Q3.

"We now expect demand losses of 4%-8% versus pre-COVID-19 levels in Q3 in western mainland Europe, and 10% in Great Britain," Platts Analytics' head of European power analysis Glenn Rickson said.

A significant drop in nuclear supply almost offset the lower demand, he said.

That shift in the demand/supply balance, alongside a rally in EU CO2 prices, had lifted European power prices from record-lows seen during Q2.

EU5 Power Demand (TWh)

Source: S&P Global Platts Analytics, TSO data

National Power Demand (TWh)

Source: S&P Global Platts Analytics, TSO data