Sure! Here’s the translation into American English:
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In the first week of November, the European electricity market has shown a significant shift, marked by an increase in energy demand, a reduction in wind generation in several countries, and a rise in CO₂ prices that have surpassed 82 euros per ton. This context has led to a price increase in most electricity markets across the continent. However, wind generation in the Iberian Peninsula has experienced a rebound, allowing prices in the Iberian Electricity Market (MIBEL) to remain low. Additionally, solar photovoltaic generation has reached record levels in several European markets for a November day.
During this week, France has stood out with a 16% increase in solar photovoltaic generation compared to the previous week. Spain has also reported a 4.9% increase, which, although the lowest among the major markets, reflects a growth trend. Germany, Italy, and Portugal have seen increases in their solar production of 10%, 11%, and 13%, respectively. Notably, Spain and Portugal reached all-time highs in their solar production on November 3 and 4, in line with the growth observed in other countries.
Wind production in the Iberian Peninsula has shown significant growth after several weeks of declines, with increases of 42% in Spain and 35% in Portugal. However, declines in wind production have continued in the French, German, and Italian markets.
Regarding electricity demand, all major European markets have recorded increases, driven by falling temperatures and recovery after the holiday on November 1. The Belgian market has had the largest increase at 3.7%, while Portugal reported the smallest increase at 1.4%.
Prices in European electricity markets have shown widespread increases, except in the Nordic markets and MIBEL, where significant decreases have occurred. The Italian market has stood out for reaching a weekly average of €110.99/MWh, the highest among those analyzed. In terms of daily prices, the Nordic market has recorded the lowest figure, while the Italian market reached the highest price on November 7.
Projections for the second week of November anticipate an increase in photovoltaic production in Spain, although a decline is expected in Italy and Germany. Regarding demand, a decrease is expected in France, Belgium, Portugal, and Germany, while Great Britain, Italy, and Spain may see an increase.
In the fuel sector, Brent oil prices have decreased following OPEC+ agreements and an increase in oil reserves in the United States. Meanwhile, gas futures in the TTF market have also shown downward prices, remaining below €32/MWh.
Finally, AleaSoft Energy Forecasting has scheduled a webinar for November 13, where they will discuss the outlook for energy markets in Europe, including topics on energy storage and hybridization, with the participation of industry experts.
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Let me know if you need anything else!
via: MiMub in Spanish