Energy consumption in Spain during the past four weeks brought gas demand back to positive figures and stopped further falls in electricity. Red Eléctrica and Enagás released electricity and gas demand data in April and analysts in the financial City of Madrid welcomed the better-than expected news.
Electricity demand was slightly on the recovery path with a -0.9 percent and a -1.8 percent annually accumulated decrease. As for electricity generated from renewable resources, it reached 39.4 percent of which 26.7 percent was wind energy with an annually accumulated percentage of 19.3 percent. In fact, April recorded a new maximum in wind energy production and covered demand, with a healthy 61 percent.
As for natural gas, demand returned to positive numbers for the first time in several months. It recorded +1.8 percent for the year and +9 percent for April.
All in all, something to cling to for those who see light at the end of the current Spanish economic dark and long tunnel.
“Just as people require food, economies require energy. The relationship is straightforward: economic growth is a function of energy consumption.”