Rising electricity demand and higher CO2 emission prices increased the average energy prices last week on most major European markets, according to ALEASOFT Energy forecasting. Spain reached a new record of the daily solar generation, with France, Italy and Portugal also June Highs.
Most major European electricity markets had an increase in the weekly average electricity price in the first week of June, according to analysis of ALEASOFT Energy Prognosing.
Compared to the week before, the Spanish consultancy firm that the weekly average price rose in the Belgian, British, Dutch, German, Italian, Portuguese and Spanish markets. Averages were more than € 50 ($ 57.94)/MWh in each of these markets, with the Italian market registering the highest at € 99.73/MWh.
The exceptions were the French and Nordic markets, where the weekly average electricity price fell week by week, with € 15.66/MWh and € 17.09/MWh respectively.
ALEASOFT says that the price increases in most markets were caused by an increase in demand for electricity and the rise in CO2 emissite prices. During the second week of June, the consultancy will anticipate a further increase in average electricity prices, powered by a higher demand for electricity and a decrease in wind and solar energy production.
All analyzed markets, Bar The Nordic and Italian markets, recorded negative electricity prices last week. The German market saw the lowest hourly price of the week, on -€ 53.06/MWh from 3:00 pm (CEST) until 4:00 pm on 8 June.
Aleaoft also discovered that the production of solar energy decreased week on a week in France, Germany, Italy, Spain and Portugal.
Despite these decreases, Spain broke his record for all time for the production of solar energy on 6 June and reached 221 GWH. On the same day, Portugal defeated his record for solar energy that was produced during a day in June when it reached 27 GWH. This was followed by France and Italy who reached the same milestone three days later as Portugal reached 134 GWH and 152 GWH respectively.
ALEASOFT said that the production of solar energy will continue to fall in Italy and Spain in the second week of June. In the meantime, Germany is expected to reverse the three consecutive weeks of decline with an increase in solar energy production.
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