ECONOMY

Demand for electricity fell in August

The continuing decline in demand for electricity and the parallel increase in the use of expensive renewable energy sources (RES) as a substitute for conventional fuels such as lignite and natural gas constitute two very negative developments for the local power industry.

According to figures published by the Independent Power Transmission Operator (ADMIE) on Wednesday, the demand for electricity in August fell 3.4 percent from the same month last year, while the yearly drop in the year’s first eight months amounted to 5.1 percent.

The slide in demand is not only attributed to the financial crisis but also to the mild weather conditions that reduced the need for the use of air-conditioning systems, with households and small businesses consuming 4.4 percent less last month. In contrast, the demand from big industries rose 7 percent in August on a yearly basis.

RES output increased by 83.9 percent last month from August 2012, while the rise in the January-August period came to about 50 percent. RES units produced 844 gigawatt-hours last month, reaching their peak for the year, from 450 GWh in August 2012.