IDEAS home Printed from https://ideas.repec.org/a/bde/journl/y2023i03n06.html
   My bibliography  Save this article

How natural gas demand has evolved in 2022-2023

Author

Listed:
  • María de los Llanos Matea

    (Banco de España)

Abstract

Rationale In view of the energy emergency owing to the war in Ukraine, this article analyses how natural gas consumption by households, firms and the electricity sector evolved in 2022 and early 2023, to identify whether the changes are merely conjunctural or structural in nature. Takeaways •Last year was much warmer than usual. This explained households’ lower demand for gas in the first half of 2022, but it was not sufficient to warrant the larger fall in demand in the second half. During the first four months of 2023 the typical temperature-related consumption pattern was restored. •Firms’ demand for gas has been lower than usual since April 2022, including in the first four months of 2023. This lower consumption may partly be on account of energy efficiency improvements and investments in renewables made by firms. •By contrast, in 2022 the electricity sector posted its highest demand for natural gas in recent years, owing to low hydropower and cogeneration output and, especially, to Spanish electricity exports for conjunctural reasons.

Suggested Citation

  • María de los Llanos Matea, 2023. "How natural gas demand has evolved in 2022-2023," Economic Bulletin, Banco de España, issue 2023/Q3.
    • Handle: RePEc:bde:journl:y:2023:i:03:n:06
    DOI: https://doi.org/10.53479/32629
    as

    Download full text from publisher

    File URL: https://www.bde.es/f/webbe/SES/Secciones/Publicaciones/InformesBoletinesRevistas/BoletinEconomico/23/Files/be2303-art06e.pdf
    Download Restriction: no
    File URL: https://libkey.io/https://doi.org/10.53479/32629?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    Natural gas prices; electricity exports; measures;
    All these keywords.

    JEL classification:

    • L00 - Industrial Organization - - General - - - General
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • Q49 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Other

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bde:journl:y:2023:i:03:n:06. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ángel Rodríguez. Electronic Dissemination of Information Unit. Research Department. Banco de España (email available below). General contact details of provider: https://edirc.repec.org/data/bdegves.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.