Here’s the translation to American English:
During the fourth week of May, electricity prices in European markets saw a notable decrease, although some areas experienced increases. This downward trend was driven by a significant rise in wind power generation, along with historic records in solar photovoltaic generation in countries such as France, Portugal, and Italy. Additionally, electricity demand decreased in much of these markets.
Upon further analysis, solar photovoltaic production continued to rise on the Iberian Peninsula. Spain led the growth by increasing its production by 10%, while Portugal followed with an 8.9% increase. In contrast, Germany, Italy, and France experienced declines in their production, with Germany having the largest reduction at 17%.
Italy set a new record by generating 149 GWh of solar energy in a single day during May, marking the second highest figure in the country’s history. France and Portugal also reported significant numbers, with 142 GWh and 26 GWh, respectively.
In terms of wind energy, an increase was observed ranging from 1% in Portugal to an impressive 67% in Italy. Germany also showed a continuous increase with 27% growth after four weeks of gains.
Electricity demand exhibited a general downward trend, with Belgium reporting a reduction of 1.9% and smaller decreases of 0.2% in Italy and France. Demand is expected to rise in the Iberian markets next week, while a decline is anticipated in Germany, France, and Belgium.
The average prices in European electricity markets remained below €70/MWh, except in the British and Italian markets, where prices reached €84.50/MWh and €96.54/MWh, respectively. Notably, the MIBEL market in Spain and Portugal experienced significant drops of 46% and 48%, while the Italian market saw a slight increase of 0.8%.
In the gas sector, the TTF experienced a rise, peaking at €36.98/MWh, influenced by reduced supply from Norway due to scheduled maintenance. Meanwhile, CO2 emission futures remained above €70/t.
Looking ahead, electricity prices are expected to continue their downward trend in most European markets, although a potential decrease in wind and solar energy production in the Iberian Peninsula could lead to increases in that specific area.
via: MiMub in Spanish
