2024-07-12 17:31:16
An indirect measure of the level of economic activity is electricity consumption. In recent months, according to the National Institute of Statistics and Census (Indec), the economy has experienced a recession, especially in the production sector. In June, the largest electricity consumer in the sector, Electricity demand down 7% compared to June 2024.
According to the latest report released by the Wholesale Electricity Market Management Company (Cammesa) Demand from large elderly users (GUMA) fell 7%as it increased from 2275.8 average megawatt (MWmed) to 2116.6 MWmed.
Compared with May 2024, demand was 2,137.2 MWmed, a decrease of 1%. The region with the highest consumption is Patagonia, with Aluar, is the only primary aluminum production company in Argentina and one of the most important primary aluminum production companies in South America, with an annual output of 460,000 tons. Its demand is so great that it is classified in reports when calculating consumption.
Excluding this company, electricity demand fell 12.3%. The regions with larger decreases were the Northwest Region (34.0%), the Coast Region (25.2% less than last year) and Cuyo (14.9%).
About activities, The largest decline in electricity demand has been in the industrial sector., which includes automobiles, petroleum products, construction, wood and paper, non-automotive metal products, textiles and chemicals. Consumption fell 15.7% as demand fell from 1,239.6 MWmed in June 2023 to 1,044.6 MWmed last month.
The industry with the most obvious decline in electricity consumption is the construction industry, which includes cement and quarry production, saw demand fall by 39.7%. This is no small fact, as this segment was one of the ones with the largest decrease in activity in May, according to Indec, a fact that is likely to be replicated in June.
Specifically, buildings, including all parts involved in activities, Activity in May decreased by 32.6% year-on-year, with a cumulative decrease of 32.2% first five months of this year.
Decline in electricity demand: How will large users use electricity in May?
May 2024, Electricity demand from large consumers excluding Aluar decreased by 7.1% compared with May 2023. This group includes 7,500 companies and represents 98% of the country’s huge demand. It includes GUMA, Large Distributor User (GUDI) and Large Secondary User (GUME).
that month Consumption in the non-automotive metal products industry and construction industry declined.. Among them, the construction industry fell by 21.8%, and the construction industry fell by 35.9%.
In May 2024, the Manufacturing Industrial Production Index (Manufacturing IPI) compiled by Indec A decrease of 14.8% compared with the same period in 2023. From January to May 2024, the cumulative decrease was 15.2% compared with the first five months of 2023.
According to official data,All indicators of the National Industrial Survey fell compared with the fifth month of 2023. The comparison between the two records reflects the impact of the recession on electricity consumption, changes in which will be seen in the coming months.
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