Spain's electricity demand drops for second year in a row

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The amount of electricity consumed in Spain fell 2.3% for a second straight year in 2023, raising concerns of a supply surplus as the renewable sector ramps up more quickly than fossil and nuclear-fuelled sources wind down. With renewable sources breaking records and the government planning to massively increase their contribution to the energy mix in coming years, lacklustre electricity demand is a growing issue for the renewable industry. Spanish demand for electricity stood at 244,686 gigawatt hours (GWh) last year following a 2.3% decline in 2022, provisional data released by grid operator Red Electrica showed on Thursday.
 
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