France, Italy and Spain set record highs for solar energy production last week, according to analysis from AleaSoft Energy Forecasting.
The Spanish consultancy found that France reached its all-time high on July 6, with a record 199 GWh. Spain broke its record two days later when it reached 277 GWh, while Italy recorded a new record on July 10 with 167 GWh.
Germany recorded the second highest figure in history, generating 494 GWh on July 10, which also represented the highest figure on a single day in July. Portugal also broke its record for solar energy generated in July when it reached 34 GWh on July 7.
Despite these new solar energy records, AleaSoft found that some markets recorded an increase in their weekly average electricity price in the second week of July.
The consultancy recorded an increase in the weekly average electricity price in the French, Italian, Portuguese and Spanish markets, as well as in the British and Scandinavian markets. In contrast, the German, Belgian and Dutch markets recorded a decline in their weekly average electricity price.
The Italian market had the highest weekly average of the markets analyzed, at €144.09 ($164.22)/MWh, followed by the UK market, at €118.92/MWh. At the other end of the scale, the Scandinavian and French markets recorded the lowest averages, at €56.68/MWh and €92.42/MWh.
AleaSoft said the upward trend in prices in most markets was driven by higher electricity demand in some cases, such as France and Britain, while lower wind energy production in Italy, Spain and Portugal also contributed to the price increases.
Prices were also driven up by higher CO2 emission allowances and gas prices, AleaSoft adds.
CO2 emission rights futures on the EEX market for the December 2026 reference contract reached their maximum settlement price of €81.81/ton on July 6, which is the highest level since February 5, according to AleaSoft.
TTF gas futures on the Front-Month ICE market reached their maximum settlement price of €50.10/MWh on July 9, the highest price since May 20, according to AleaSoft analysis.
The consultancy says gas futures prices have risen due to increased hostility between the United States and Iran, which has threatened the movement of liquefied natural gas (LNG) through the Strait of Hormuz.
“The new military strikes between the two countries increased perceived risks to LNG supplies from the Persian Gulf and pushed prices higher for much of the week,” AleaSoft explained. “On Friday, July 10, prices fell slightly after signs that the United States and Iran continued diplomatic talks. However, European gas supplies remained below the five-year seasonal average and continued to support prices above €48/MW.”
AleaSoft expects this week to bring a further increase in the weekly average electricity price as demand increases in some markets and gas prices continue to set market trends. Solar energy production is expected to increase in Germany and Italy, but decrease in Spain.
