June 23, 2024
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Europe: Increase in solar energy production

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In the fourth week of November, MIBEL registered the lowest prices among the main European markets thanks to solar and wind energy. In the other markets, prices were in general higher than in the previous week, although wind energy helped to push prices below €100/MWh over the weekend. Photovoltaic energy registered the production record for November in the Iberian Peninsula and wind energy in Germany. CO2 futures reached the lowest price in the last year.

In the week of November 20, most of the main European electricity markets registered an increase in solar energy production compared to the previous week. The Portuguese, Spanish and French markets registered increases of 16%, 8.9% and 3.1%, respectively. On the other hand, production declined in the Italian and German markets. The Italian market registered the largest drop, with a 24% decline, while the German market fell by 11%.

On November 24, solar photovoltaic energy produced 88 GWh in Spain, the highest value since October 21, when it generated 89 GWh. That day’s production exceeded the 84 GWh produced on November 19, making it the highest for a November in history. In Portugal, on November 24, there was also the production record for a November month, with 10 GWh of solar photovoltaic energy production.

According to AleaSoft Energy Forecasting’s, solar energy production will decrease in Spain, Germany and Italy in the week of November 27.

During the week of November 20, wind energy production increased in the Iberian Peninsula compared to the previous week. In the Portuguese market it rose by 115%, while in the Spanish market, it increased by 74%. On the other hand, the French, Italian and German markets registered decreases in wind energy generation of 37%, 14% and 3.3% respectively.

Despite the week-on-week drop, on November 23, the German market generated 989 GWh using wind energy, the highest value since the second half of February and an all-time record for daily wind energy production for November in this market. In the case of the Italian market, on November 25, the production using this technology was 168 GWh, the highest since the first fortnight of January and the second highest for November, after the one reached on November 22, 2022, of 176 GWh.

According to AleaSoft Energy Forecasting’s, there will be an increase in wind energy production using this technology in the Iberian Peninsula and Italy in the week of November 27, while it will decrease in the markets of France and Germany.

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