Sure! Here’s the translation into American English:
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In the first week of October, electricity prices in most European markets experienced a notable drop compared to the previous week, except for the Iberian market, where increases were recorded. This decline is attributed to a rise in photovoltaic and wind energy production, lower demand, and a reduction in gas prices. However, CO2 emission permit futures reached their highest level since mid-February, adding a layer of complexity to the energy landscape.
Photovoltaic solar energy production grew significantly in several markets, with France and Germany seeing increases of 25% and 22%, respectively. Italy and Portugal also recorded increases, albeit to a lesser extent. In contrast, Spain experienced a 3.4% drop in production, marking the second consecutive week of decline. On specific days like October 1 and 2, record figures were achieved, with France generating 117 GWh and Germany, Spain, and Italy reaching 283 GWh, 181 GWh, and 98 GWh, respectively.
Wind production also showed remarkable growth, with Italy leading with a 119% increase. However, the Iberian Peninsula suffered declines in wind production, reporting drops of 8.7% in Spain and 40% in Portugal.
In terms of electricity demand, there was an increase in the Iberian Peninsula, driven by a holiday in Portugal, while in other markets such as Italy, Germany, and France, demand decreased, often due to seasonality. Average temperatures rose across much of Europe, which also influenced this phenomenon.
Although electricity prices fell in most markets, the MIBEL market, which includes Portugal and Spain, saw increases of 14% and 15%, respectively. Markets like France’s EPEX SPOT experienced more moderate declines, while the UK’s N2EX reported a 32% drop.
In the fuel sector, Brent oil futures showed fluctuations and closed lower, affected by concerns over supply and demand. Gas prices, on the other hand, remained below €32/MWh due to abundant supply and high reserve levels in Europe.
Changes are anticipated for the second week of October, with a possible rebound in electricity prices due to decreasing wind production and increased demand in some markets. Additionally, on Thursday, October 9, AleaSoft Energy Forecasting will hold a seminar discussing the outlook for the European energy sector and financing projects related to renewable energies.
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Referrer: MiMub in Spanish
