June 23, 2024
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Europe: Solar energy production increased in week 10

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According to AleaSoft Forecasting, in the second week of March, prices in European electricity markets showed few variations compared to the previous week, except in the MIBEL market, where they doubled. Even so, the Iberian Peninsula registered the lowest prices. Photovoltaic energy production in Spain and Portugal reached the levels of the end of August and set another record for March month. Wind energy production fell in most markets. On March 14, Brent futures reached their highest price since early November, $85.42/bbl.

In the week of March 11, solar energy production increased in most major European electricity markets compared to the previous week. The Spanish market reached the largest increase, 48%, reversing the downward trend of the previous week. The French market registered the smallest increase, 12%, rising for the third consecutive week. The German market was an exception to the upward trend. In this market, after four weeks of increases, solar energy production fell by 2.5%.

In the Iberian Peninsula, the highest solar photovoltaic energy production records for March month were broken again. On the 12th, the Spanish and Portuguese markets produced 143 GWh and 14 GWh, respectively. These production levels were last registered at the end of August.

For the week of March 18, according to AleaSoft Energy Forecasting’s solar energy production forecasts, the trend registered in the previous week will be reversed. Solar energy production will increase in Germany but it will decrease in Spain and Italy, AleaSoft Forecasting reports.

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