Spain's electricity demand drops for second year in a row [Reuters]
NATURGY ENERGY GRP U/ADR (GASNY)
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Source: Reuters
MADRID, Jan 4 (Reuters) - The amount of electricity consumed in Spain fell 2.3% for a second straight year in 2023, raising concerns of a supply surplus as the renewable sector ramps up more quickly than fossil and nuclear-fuelled sources wind down. With renewable sources breaking records and the government planning to massively increase their contribution to the energy mix in coming years, lacklustre electricity demand is a growing issue for the renewable industry. Spanish demand for electricity stood at 244,686 gigawatt hours (GWh) last year following a 2.3% decline in 2022, provisional data released by grid operator Red Electrica showed on Thursday. The drop was driven by depressed demand from Spain's industrial consumers, which are still reeling from the impact of the energy crisis. Industry lobby group APPA Renovables on Wednesday called for policies to support electricity consumption, such as boosting the adoption of electric vehicles. Renewable sources like wind and
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