Publish Time: 2023-11-23 Origin: Site
Euro’s electricity prices recovered by falling wind generation
Electricity market prices recovered in the second week of November due to falling wind production. MIBEL recorded the lowest weekly average price for the third consecutive week.
Wind energy production in the main European electricity markets decreased week‑on‑week during the week of Nov. 6. This was after reaching very high levels at the end of October and the beginning of November. The Italian market registered the largest drop of 35% followed by the Portuguese market with 34%. The German market registered the smallest decline of 9.9% but the country's wind energy generated 897 GWh on Nov. 6 – the highest volume since mid‑March.
For the week of Nov. 13, AleaSoft Energy Forecasting’s wind energy production forecasts indicate that wind energy production will continue to decline in most of the analyzed markets except for Italy.
NOVEMBER 14, 2023 ALEASOFT ENERGY FORECASTING
Solar photovoltaic, solar thermoelectric and wind energy production
In the week of Nov. 6 changes in solar energy production in the main European electricity markets did not follow a homogeneous trend compared to the previous week. Solar energy production increased by 37% in Spain, 19% in France and 12% in Portugal. The Italian and German markets did the opposite and solar energy production fell by 7.7% and 1.7%, respectively.
It is expected solar energy production will increase in Spain and Italy for the week of Nov. 13, according to AleaSoft Energy Forecasting’s solar energy production forecasts.
Electricity demand
In the week of Nov. 6 electricity demand increased in the main European electricity markets compared to the previous week. This was partly due to demand recovering after the previous week’s falls related to the celebration of All Saints’ Day in most of Europe. Increases ranged from 3.6% in the Dutch market to 12% in the French market.
During the same period, average temperatures decreased in all analyzed markets compared to the previous week. The decreases ranged from 3.1 C in Italy to 1.0 C in Portugal.
According to AleaSoft Energy Forecasting’s demand forecasts, in the week of Nov. 13, electricity demand will increase in most of the analyzed markets. Only the French, German and Spanish markets will register lower demand.
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