Consumption of electricity in Europe to increase by 1.4% annually

According to Eurelectric, European Association of Energy companies, consumption of electricity in Europe should increase by 1.4% annually until 2020. The highest growth in electricity consumption by 3% to 4% annualy should be in Balkan countries, which is in-line with the CEZ’s foreign expansion strategy. Consumption in the Czech Republic should increase by 1.8% by 2010 followed by growth of 1.3% annually by 2020. This is in-line with the Czech state energy concept, approved three years ago. On the other hand consumption of electricity in Western Europe should increase by less than 1.0% in average, e.g. in Germany the demand should growth by 0.4% by 2020.

Our view:
As the long term predictions of Eurelectric are in-line with other independent forecasts which we consider realistic, we see this news as neutral and only confirming our view on continuous pressure on the electricity price in mid-term until new energy sources are built.