France, Germany, Spain and Portugal all broke records for daily PV production in the second week of May, with prices continuing to rise in all major European electricity markets, with the exception of the French market, says Spanish consultancy AleaSoft Energy Forecasting.
Most major European electricity markets recorded a gradual rise in weekly electricity prices during the second week of May, according to Spanish consultancy AleaSoft Energy Forecasting.
The largest weekly increases were in the German and Nordic markets, at 18% and 12%, respectively. Increases were also observed in the Belgian, British, Dutch, Italian, Spanish and Portuguese markets. The only exception was the French market, where prices fell by 17%.
Average weekly prices remained below EUR 65 (US$70.66)/MWh in most of the markets analyzed. The exceptions were the German, British and Italian markets, where they averaged €67.33/MWh, €81.65/MWh and €90.86/MWh respectively.
The French market recorded the lowest weekly average, at €28.06/MWh, breaking Portugal’s 13-week streak as the market with the lowest weekly prices.
All countries analyzed, except for the British and Italian markets, recorded negative prices last week. For the second week in a row, the Dutch market reached the lowest hourly price, at -200.00 EUR/MWh, recorded on 12 May between 13:00 and 14:00.
AleaSoft said the decline in wind energy production and the increase in the average gas price and carbon dioxide emissions had an upward impact on electricity market prices. The decline in electricity demand in most major European markets last week may also have played a role, which came as countries saw temperatures warmer than average for this time of year.
For the third week of May, AleaSoft expects a decline in electricity prices, driven by increased wind energy production in most markets.
AleaSoft said solar production will continue to increase in Germany in the third week of May, but will decline in Spain and Italy.
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