In the first week of August, gas and CO2 prices rose, leading to an increase in prices in most of the major European electricity markets. The Italian market recorded its highest daily price of the year on July 29, while the Iberian market reached its second highest value on August 5. At the same time, the French market set a historic record in photovoltaic production on July 29, and the markets of Italy, Spain, and Portugal reached their highest levels of solar production for the month of August.
Regarding photovoltaic and thermoelectric solar production, the week of July 29 showed an increase in Germany (11%), France (3.5%), and Italy (0.1%), with France marking its fourth consecutive week of solar generation increase. However, on the Iberian Peninsula, the trend was downward, with decreases of 9.5% in Portugal and 6.2% in Spain. France again set a record for photovoltaic solar production with 129 GWh on July 29, while on August 1, the highest daily photovoltaic production for the month of August was recorded in France (105 GWh), Italy (124 GWh), Spain (199 GWh), and Portugal (22 GWh).
Wind power production during the first week of August increased in Portugal and Italy, with increases of 26% and 11%, respectively, while decreases were recorded in France, Germany, and Spain. The German market saw a decrease of 42%, the Spanish market of 9.8%, and the French market of 4.9%.
Variations in electricity demand showed a mixed behavior. Increases in demand were observed in Germany, France, Spain, and Belgium, while decreases were recorded in Portugal, Great Britain, Italy, and the Netherlands. Spain recorded the largest increase at 2.6%, while Italy reported the most significant decrease at 1.6%.
In the first week of August, European electricity markets experienced an increase in prices. The MIBEL market in Spain and Portugal saw an increase of 13%, with prices reaching €109.82/MWh on August 5. The Italian market recorded the highest weekly average price, €120.13/MWh, with peaks of €125.89/MWh and €124.99/MWh at the end of July and beginning of August.
Brent oil futures prices for Front-Month on the ICE market fell, closing below $80 on almost every day of the week, reaching their lowest point on August 2 at $76.81/bbl. Additionally, TTF gas futures on the ICE market increased by 10% weekly compared to the previous week, reaching €36.97/MWh on August 1. CO2 emission rights prices also rose, reaching €71.18/t on the same August 1.
AleaSoft Energy Forecasting forecasts a reduction in weekly electricity prices in most European markets, supported by a decrease in demand and an increase in wind and solar production in certain countries.
Lastly, AleaSoft reported on energy storage prospects and highlighted the work of AleaStorage, a division specializing in the optimization and management of energy storage systems, such as batteries and hybrid technologies, based on simulations and optimization algorithms to maximize revenue in electricity markets.
Source: MiMub in Spanish
