During the week of August 14, solar photovoltaic energy production reached an all?time record for hourly production in Portugal. In this market, a production of 1727 MWh was registered between 13:00 and 14:00 on Thursday, August 17.

Comparing solar energy production, which in the case of Spain includes solar thermal energy, with the previous week, solar energy production increased in the German, Spanish and Portuguese markets, with increases of 8.3%, 3.7% and 1.2%, respectively. The opposite trend was observed in the Italian and French markets, with decreases of 6.3% and 7.3%, respectively.

For the week of August 21, according to AleaSoft Energy Forecasting’s solar energy production forecasts, solar energy production is expected to decrease in the German and Italian markets, while it is expected to increase in Spain.

Source: Prepared by AleaSoft Energy Forecasting using data from ENTSO-E, RTE, REN, REE and TERNA

In the third week of August, compared to the previous week, wind energy production dropped in all analyzed markets. The most substantial decrease, of 57%, was observed in the German market. In the remaining markets the production drop ranged from 3.7% in the Italian market to 18% in the Spanish market.

For the week of August 21, AleaSoft Energy Forecasting’s wind energy production forecasts indicate that wind energy production will increase in most of the markets analyzed, with the exception of the German and French markets.

Source: Prepared by AleaSoft Energy Forecasting using data from ENTSO-E, RTE, REN, REE and TERNA

Prices in European electricity markets rose in the third week of August

Prices in European electricity markets rose in the third week of August. The increase in gas and CO2 prices, together with the general decrease in wind energy production and the increase in demand due to higher average temperatures, favored the price increase in all European electricity markets.

In the week of August 14, electricity demand increased in the Central and Northern European markets and decreased in the Southern European markets analyzed at AleaSoft Energy Forecasting compared to the previous week. The strongest rise, of 9.8%, was observed in the Dutch market, followed by the 4.8% increase registered in the Belgian market. In the French, German and British markets, the increase in demand ranged from 2.3% to 1.8%.

The opposite trend was observed in the Iberian Peninsula, with a fall of 9.6% in the Portuguese market and 4.3% in the Spanish market. Similarly, demand in the Italian market decreased by 1.1%.

Source: Prepared by AleaSoft Energy Forecasting using data from OMIE, EPEX SPOT, Nord Pool and GME

In the week of August 14, prices in all European electricity markets analyzed at AleaSoft Energy Forecasting increased compared to the previous week. The Nord Pool market of the Nordic countries registered the largest price increase of 168%. For the EPEX SPOT market of Germany and the Netherlands, prices increased by 50% and 46%, respectively. In the other markets, prices rose between 7.5% in the N2EX market of United Kingdom and 17% in the EPEX SPOT market of Belgium.

In the third week of August, weekly averages were above €90/MWh in almost all European electricity markets. The exception was the Nordic market with the lowest average of €33.25/MWh, despite the price increase registered in this market. On the other hand, the MIBEL market of Spain and Portugal had the highest average price of €106.24/MWh. In the other markets analyzed, prices ranged from €90.77/MWh in the French market to €105.97/MWh in the IPEX market of Italy.

AleaSoft Energy Forecasting’s price forecasts indicate that prices might continue to rise in the fourth week of August in most of the European electricity markets analyzed, influenced by the increase in electricity demand in most markets and the decrease in wind energy production in markets such as Germany and France.