Italy, Portugal, Spain break daily solar production records

Rome: Electricity prices fell across most major European markets during the week commencing June 23, according to analysis from AleaSoft Energy Forecasting.

When compared to the week prior, the consultancy noted a drop in the weekly average electricity price across the Belgian, British, Dutch, German, Italian, Nordic, Portuguese and Spanish markets. The exception was the French market, where the average price increased by 19% week on week.

The highest average weekly price was found in the Italian market, at €117.27 ($138.14)/MWh, while the lowest average weekly price was in the Nordic market, at €15.84/MWh. The Nordic market also saw the lowest daily average price of the week, at €0.79/MWh on June 29, for its lowest daily figure since last August.

AleaSoft attributed the drop in electricity prices to a fall in gas and CO2 emissions prices, while in some countries, electricity demand also decreased.

All analyzed markets, except the Italian, Portuguese and Spanish markets, recorded negative electricity prices last week, with the lowest hourly price of the week found in Belgium, at -€35.19/MWh on June 29 between 14:00 and 15:00.

AleaSoft is forecasting electricity prices will rise across much of Europe during the first week of July, driven by increased electricity demand. An exception is anticipated in Portugal and Spain, where increased wind energy production is expected to drive electricity prices down.

The consultancy also found solar energy production increased in Italy and Spain last week but declined in France, Germany and Portugal.

Both Portugal and Spain broke their records for daily solar energy production on June 26, reaching 30 GWh and 235 GWh, respectively. Italy achieved the same feat on June 29, with 157 GWh generated.

AleaSoft is expecting solar energy production to have increased in the German and Spanish markets this week and to have declined in Italy.