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Italy’s Edison sees reduced demand for natural gas and electricity

27 Apr 2012 16:26:53 | edem esgm

Italian natural gas and electricity supplier Edison saw demand for gas drop by 2.2% and power by 1.9% year on year in the first quarter of 2012, the company said on Friday.

The company blamed an "unusually mild winter" for the reduction in its earnings report for 2012 first quarter.

The demand outlook for both gas and electricity will stay "well below pre-crisis levels, and upturn is expected only over the medium term", Edison said.

The company also warned that Italy faces oversupply in gas and power, because of the "explosive" growth in solar power in Italy and a resumption of gas supply from Libya.

Edison had a net loss of €52m in the first quarter. The 2011 first quarter saw a loss of €21m.

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