Casablanca – Morocco’s electricity production has witnessed fluctuations in recent months, reflecting a mix of factors influencing the energy sector. According to reports from the Directorate of Financial Studies and Forecasts (DEPF), the production dynamics have been shaped by various elements including private investments, renewable energy initiatives, and the performance of the National Office of Electricity and Water (ONEE).

At the close of the first quarter of 2024, the DEPF reported a 5.7% increase in national electricity production compared to the same period in the previous year. This growth, however, contrasts with a 2.6% decline observed in the preceding year, marking a significant turnaround for the sector.

The positive momentum in production can be attributed to several factors, notably the robust performance of private production, which surged by 8%, and the substantial increase of 42.8% in renewable energy production under Law 09-13. Despite these gains, the ONEE experienced a decrease in production by 9.9%, indicative of challenges faced by the state-owned utility.

In terms of international trade, Morocco’s energy exchanges showcased a mixed picture. While electricity imports decreased by 5.4% by the end of March 2024, following a significant surge of 211.7% in the previous year, exports surged by a remarkable 74.5%, contributing to a positive trade balance in energy.

However, the situation fluctuated further in subsequent months. By January 2024, the growth in electricity production moderated to 1.7%, with private production and renewable energy posting gains of 4.9% and 15.2%, respectively. This growth was dampened by a decline in production by the ONEE, indicating ongoing challenges faced by the national utility.

Looking at the trade dynamics, the rate of electricity import growth slowed to 24.8% by the end of November 2023, while exports experienced a notable decrease of 7.4%. Despite these shifts, the volume of net energy called increased by 3.4%, highlighting the resilience of Morocco’s energy sector amidst changing market conditions.

Electricity consumption patterns also underwent shifts during this period. While consumption increased by 2.7% in the first quarter of 2024, following a 5.4% rise in the preceding year, November 2023 saw a more modest growth of 3.2%. This variation in consumption reflects changing demand patterns influenced by economic conditions and energy efficiency initiatives.

Morocco’s electricity sector continues to navigate through a dynamic landscape characterized by fluctuating production levels, evolving trade dynamics, and changing consumption patterns. As the country strives to meet its energy needs while advancing towards sustainability goals, the sector remains a key area of focus for policymakers and investors alike.