Big drop in electricity consumption in May in the EU- Cyprus and Greece, electricity consumption increased.

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Electricity consumption in most Member States fell sharply in May, according to data released by Eurostat, the EU statistical office. According to Eurostat, total electricity consumption in the EU in May 2020 was 10.5% lower. from the lowest price in May recorded between 2016 and 2019. 

Electricity consumption in May 2020 was very low in some countries, especially in Spain and Poland (both -13.7% compared to May 2019), Slovenia (-13.4% ), Croatia (-11.9%), Romania (-11.8%) and Portugal (-11.6%).

Nine other Member States saw reductions of 5% to 10%, while for six Member States the reduction was between 1% and 5%. In two Member States (Bulgaria and Latvia) the situation was stable (+/- 1%), while in the other four Member States, including Cyprus and Greece, electricity consumption increased.

Interestingly, for five Member States, monthly electricity consumption in April and May 2020 was never lower than in the corresponding month in the years between 2016 and 2019 (Bulgaria, Denmark, Estonia, Malta and Sweden) .

It is noted that since mid-March 2020, EU Member States have taken restrictive measures to slow the spread of COVID-19. These measures included closing factories, schools, restaurants, bars and hotels and requiring people to stay at home. Many companies reduced production levels due to lack of demand or supply chain disruption. These measures came into full force for the whole of April and for part of May 2020, according to Eurostat.

SOURCE: KYPE