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After historic peak, energy demand loses momentum in late 2022

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Energy demand lost momentum in the last few months of last year, growing just 1.5% in December, according to the Transaction Unit (UT) market report.

Electricity consumption is a more sensitive indicator to its relationship to economic dynamics, as it increases when firms are active and producing, in addition to injecting into the home network. The line saw its highest growth rate early last year, but the trend has slowed in recent months, according to a report from his UT, the wholesale market manager.

Demand in February and March increased by 11.8% compared to the same months in 2021, showing even greater fluctuations than those registered before the covid-19 pandemic. The dynamics lost momentum after June, recording a sharp slowdown in October, with interest rates closing at his 3.2%, November at 2.7% and December at 1.5%. rice field.

UT recorded that 7,088.7 gigawatt hours (GWh) were added by injecting into the network, with hydro and geothermal generating the largest share of the market.

May was the month with the highest demand, followed by September and October. Then comes April, the dry season when temperatures rise.

The power sector was one of the fastest growing items in Q3 2022, with a 12.6% change. According to the Central Reserve Bank (BCR), this dynamism is due to the diversification of the energy matrix, increased hydropower generation and electricity exports.

Injections per resource

On September 15th and November 5th, the Selon Grande, Guajoyo hydropower plants were shut down last year, injecting 2,147.4 GWh into the grid. The four power plants are managed by the Lempa River Hydroelectric Executive Committee (CEL). This is a low cost technique as it relies on the availability of water in reservoirs.

Hydropower injection has increased by 30.2% compared to 2021 participation, according to UT.

The second major generator serves two geothermal wells managed by LaGeo, a subsidiary of CEL. UT reports that the technology injection totaled 1,451.6 GWh, representing a market share of 20.7%, a 1.1% growth for him compared to 2021.

The 24 thermal power plants in operation in El Salvador contribute 1,539.3 GWh at the end of 2022, equivalent to 21.7%. As this technology relies on importing crude oil, power generation costs are higher than renewable energy.

Biomass accounted for 7.7% of injection, solar 7.6%, import 9.9% and wind 1.9%.

price

After hitting its highest price since 2014 in April, megawatt hours (MWh) began to decline, ending last year at $97.28, 19.51% lower than the same month in 2021.

UT reports that the dynamics held up in the first month of 2023, ending with an average price of $96.47, 25.3% cheaper than the $129.24 it took in the same month of 2022.

Source: Diario.Elmundo

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