Energy: electricity consumption booms as Italy's heatwave hits. Air conditioners push demand to year's highs

The unusual heat of these weeks is pushing the use of air conditioners and ventilation systems to alleviate the impact of the sultriness. With very evident consequences on electricity consumption, which is close to the highest of the year, reached in the early afternoon last Saturday with a peak above 55 gigawatts. But even these days, the grip does not seem to be loosening and the demand for electricity remains at very high levels, around 54 GW per day, according to the latest data provided to Terna, which also reminds us that last year, the peak in demand was recorded with a maximum that touched 58 gigawatts, while in 2023 the hottest summer had pushed the bar above 58.75 gigawatts.

In the last days of June, therefore, demand exceeded 55 GW and this value was recorded with an average Italian temperature of 27 C°, significantly higher than that recorded in June 2024 and in line with values for the second half of July 2024. These are very high levels, but it must be said that the summer period is always the time when the highest electricity demand is recorded in Italy.

As far as expectations for this summer are concerned, there are no particular fears: the system, the grid company says, is adequate with a limited need for imports from abroad. In particular, the minimum import needed on potentially critical days is estimated at around 1 GW (compared to the approximately 10 GW of available interconnection capacity), while in the worst case, which is currently unlikely, 4 GW of import would be needed.

Also supporting the system is the presence of the forward market mechanism (for new capacity, with 15-year contracts) of the so-called 'capacity market', which has allowed Terna to contract more than 10 GW of new capacity, essentially gas-fired generation, and, therefore, to further secure the system against the stresses that unforeseen events can cause on the electricity grid. To this 'buffer' capacity will be added, then, that provided for by the auction for storage systems (known as Macse and authorised by the Ministry for the Environment and Energy Security) and the renewable capacity that will presumably be contracted through FerX, the latest incentive scheme signed by the ministry.