A recovery in power demand faltered in Europe this week with citizens still cautious about resuming normal life. pain showed the strongest growth from a week earlier with electricity use getting a boost after its two biggest cities, Madrid and Barcelona, lifted more pandemic restrictions. But demand paused in Italy, the country that posted the biggest recovery in the previous week, and use fell again in Germany and Britain. How much people are venturing out of their homes is still well below levels seen before lockdowns were put in place. However, it’s looking less bleak than a few weeks ago, according to Bloomberg Economics.
The slowing rate of recovery shows how difficult it will be to go back to normal. With output in the euro-area region set to shrink as much as 12% in 2020, its crucial that Europe revives its ailing economy without raising the risk of a second wave of the virus.
| COUNTRY | WEEKLY DEMAND CHANGE | ANNUAL DEMAND CHANGE |
|---|---|---|
| Germany | -0.6% | -12.8% |
| Italy | -0.7% | -9.1% |
| U.K. | -2.8% | N/A |
| Spain | 6.3% | -11% |
| France | 0.2% | -13% |
Source: Entsoe, grid operator data
France
French demand has recovered well and is now within a normal range, according to BloombergNEF. This chart shows demand is now above the five-year average for this time of year:
U.K
Power demand is still falling in the U.K. and hasn’t seen much of a recovery. The nation is expected to unveil details of further easing of lockdown curbs by the end of the week, which may boost to electricity use. Record-low consumption and sunny weather has been hammering the nation’s power market with prices turning negative and National Grid Plc paying small wind and solar farms to switch off.