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High demand and lower solar output drive up European electricity prices – pv magazine International

High demand and lower production of solar and wind energy pushed up electricity prices in most major European markets last week, according to AleaSoft Energy Forecasting.

According to AleaSoft Energy Forecasting, electricity prices rose in most major European markets last week.

Weekly average prices rose in Belgium, the UK, the Netherlands, France, Germany, Italy and the Nordic markets, but fell in Spain and Portugal. AleaSoft attributed the higher prices to increased demand and reduced production of solar and wind energy in some markets. In contrast, the Iberian market recorded Portugal and Spain experienced a decline in prices due to higher wind energy production and lower demand.

The Italian market recorded the highest weekly average price at €130.21/MWh ($144.81), followed by Germany and the Netherlands with prices of €96.41/MWh and €89.88/MWh respectively. The Nordic market recorded the lowest price at €21.42/MWh.

Belgium, the Netherlands and Germany all experienced negative electricity prices. The Dutch market reached a low of -10.06 €/MWh on 12 August.

AleaSoft expects rising prices in Belgium, the UK, the Netherlands, Portugal and Spain in the week of August 19 due to increased demand for electricity. However, the company predicts price declines in France, Germany and Italy.

Last week, solar energy production fell in all major European markets compared to the previous week, with France seeing the largest drop at 19%. AleaSoft forecast an increase in solar production in Germany and Spain this week, but a continued decline in Italy.

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