Turkey will be the country least affected by the coronavirus-related decrease in electricity demand in Europe, with an expected 0.3% drop for the year.
Electricity demand, one of the most important indicators of economic growth, fluctuated in many countries due to the restrictions taken to prevent the spread of the pandemic.
According to an Anadolu Agency (AA) report Thursday that compiled data from the International Energy Agency (IEA) Electricity Market Report, as a result of the measures taken against the pandemic, the global economy is expected to shrink by 4.4% this year, while electricity demand will decrease by 2%, the biggest decline in the last 50 years. On a regional basis, the biggest decrease will be in Europe with 4%.
Electricity demand is set to decrease by 6.9% in Finland, 6% in the U.K., Austria and Italy and 5.7% in Spain and Slovenia year-on-year. While the electricity demand in Greece is predicted to decrease by 5.4%, France's demand will decrease by 5.3% and Germany's electricity demand is projected to decrease by 4.8%.
Turkey, thus, is expected to be the least-affected in Europe.
The report highlighted that the world's electricity demand will enter a growth trend in 2021 thanks to an expected 5.2% recovery in the economy and will increase by 3%.
Europe's electricity demand will grow by an average of 2.5% next year. The demand for electricity will increase by 2.8% in Spain, 2.5% in France, 2.1% in the U.K. and Italy, and 1.7% in Germany.
Meanwhile, renewable energy sources will take the biggest share in Europe's electricity supply this year. These resources will meet 42% of electricity generation by the end of the year, which was 37% last year. Coal's share in Europe's electricity generation will decline to 15%, the biggest drop in its history. Electricity production from nuclear sources in Europe, on the other hand, will decrease by 12%, reaching the lowest level in the last 20 years.