AleaSoft Energy Forecasting recorded increases in electricity prices in all major European markets in the fourth week of April. It also recorded historic daily records for solar energy production in Portugal and Spain.
Analysis from AleaSoft Energy Forecasting showed that electricity prices rose weekly in all major European electricity markets in the fourth week of April.
The consultancy said the price increases were driven by a decline in wind energy production in most markets analyzed, in addition to higher demand in some cases.
The Portuguese, Spanish and French markets saw the largest increases, 419%, 402% and 181% respectively. The smallest increases were recorded in the Italian and German markets, at 12% and 9.3% respectively, while increases were also recorded in the Belgian, British, Dutch and Scandinavian markets.
Despite the large percentage increases, the Portuguese and Spanish markets still had the lowest weekly price averages, at €25.16 ($26.84)/MWh and €25.57/MWh, respectively. Portugal’s result represents the twelfth week in a row with the lowest figure.
The other seven markets all recorded averages above €60/MWh, with the highest weekly averages recorded in the Italian and UK markets, at prices of €102.58/MWh and €86.36/MWh.
All major electricity markets in Europe, with the exception of the British, Italian and Scandinavian markets, recorded negative electricity prices on at least one day last week. The Spanish market recorded negative electricity prices on three days (April 22, April 23 and April 28) and the Portuguese market recorded negative electricity prices on two days (April 22 and April 28).
The German, Belgian, French and Dutch markets reached the lowest hourly price on the afternoon of April 28, namely -€65.06/MWh.
In the first week of May, AleaSoft expects prices to fall in most electricity markets due to declining demand and increasing wind energy production, but prices are expected to continue rising in Portugal and Spain.
Solar energy production rose 35% in the fourth week of April in Germany, reversing the previous week’s decline, and 0.6% in Spain, reporting its fourth consecutive increase. A decline of 22% was recorded in France.
Portugal and Spain both broke their historic record for daily solar energy production last week. Portugal reached the milestone on April 23, generating 18 GWh, while Spain generated 174 GWh on April 24, which is the highest value in history, according to AleaSoft.
Next week, the consultancy predicts that solar energy production will decline in Spain and Italy, but will continue to rise in Germany.
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