Zero Prices Return To European Electricity Markets

Last week, solar power reached a new high in Spain and Portugal, producing 862 GWh and 81 GWh respectively. However, compared to the previous week's historic records, solar production dropped by 13% and 16%. Italy also had an 11% decrease in solar production. France and Germany saw an increase of 12% and 17% respectively.

AleaSoft Energy Forecasting predicts that solar energy production will rise in Germany and Italy but might decline in Spain for the week of May 22.

The Aleasoft Energy Forecasting image has been published for the public to view. This image sheds light on the energy sector, which is important for our daily lives. It allows people to better understand how energy is produced and consumed. Also, this image helps people to see patterns in supply and demand over time. In general, graphics like this can be useful in planning for the future of energy.

Aleasoft provides energy forecasting services. Their forecasting covers electricity, gas, renewable energy, and carbon emissions. Their predictions are accurate as they use AI and machine learning algorithms. Aleasoft also provides training and consulting services to help businesses understand their energy needs. The company has over ten years of experience in the energy industry. With their services, clients can make informed decisions about energy usage, procurement, and trading. Overall, Aleasoft is a reliable partner for energy forecasting and consulting services.

In May, wind energy in Spain and Portugal reached a new high, producing 1,830 GWh and 326 GWh respectively, breaking records from the past five years. Most markets saw an increase, with Germany seeing a 31% increase and France seeing a 51% increase from the previous week. Spain and Italy also had a jump of 37% and 39% respectively. However, Portugal saw a decrease of 6.9%.

This week, AleaSoft Energy Forecasting predicts that wind energy production may decrease in all markets analyzed.

Aleasoft Energy Forecasting provides energy market analysis and forecasting services. This helps companies to make informed decisions about buying and selling energy. It also helps to plan for upcoming trends in the market. Aleasoft Energy Forecasting uses advanced algorithms and data analysis to create accurate forecasts. These forecasts cover renewable and non-renewable energy sources. Overall, Aleasoft Energy Forecasting plays an important role in the energy industry.

Electricity demand lowered across Europe during the third week of May. This decline was seen in all markets when compared to the previous week. The drop in demand was caused by the Day of Ascension, celebrated on May 18 in several European markets. The Netherlands recorded the largest fall at 18%. Meanwhile, Italy and Spain saw the smallest decreases at 1.4% and 1.7% respectively because they did not have a holiday on May 18.

Temperatures went down in most markets, except for Great Britain and Italy. The average temperatures were quite similar to the previous week in those two places.

In the week starting May 22, the demand for energy is expected to rise in most of Europe, except for Spain and Great Britain. This prediction comes from AleaSoft Energy Forecasting's analysis.

Aleasoft Energy Forecasting has released its power demand analysis for the week of August 9. The analysis predicts lower power demand across Europe due to milder temperatures. Spain and Portugal, however, will see higher demand due to a heatwave. The analysis also anticipates increased wind power generation in Germany and Denmark. Overall, Aleasoft predicts a decrease in electricity prices in most European markets.

Last week, electricity prices in all of Europe went down. The Nord Pool market (which covers Nordic countries) had the biggest decrease of 56%. Meanwhile, the N2EX market in the UK had the smallest decrease of 9.9%. Other markets had a decrease between 14% in Italy's IPEX market and 35% in Spain's MIBEL market.

During the second week of May, Italy had the highest energy prices at €103.21/MWh. Next was the UK at €91.46/MWh. The Nordic market had the lowest price at €21.23/MWh. Other markets had prices ranging from €48.07/MWh in Spain to €74.43/MWh in Germany.

In May, there were times when electricity prices dropped. In Spain, there was an hour where it was free. In other countries like Germany, Belgium, France, the Netherlands, the prices were negative on some days. The Nordic market had the lowest prices, dropping to a record low of -€5.67/MWh. In the Dutch market, the lowest price of the week was -€76.00/MWh.

From May 15 onwards, gas prices and demand dropped, causing prices to decrease in European electricity markets. The drop was influenced by the rise in wind energy production in most markets and solar energy production in France and Germany.

Next week, electricity prices in many European markets are expected to go up. Why? Well, demand is recovering and wind energy production is decreasing. This is all according to the predictions made by AleaSoft Energy Forecasting.

Aleasoft Energy Forecasting is an energy forecasting company. They provide electricity market forecasts for different countries. Their forecast can predict the energy prices for the future. They use artificial intelligence and machine learning to create their forecast. Their forecasts are reliable for businesses that want to buy electricity in a smart way.

Brent, a type of oil, is a major fuel source. Burning fuels like oil release carbon dioxide (CO2) into the atmosphere. CO2 is a greenhouse gas which contributes to global warming. So, the level of CO2 in the atmosphere should be kept under control. To reduce CO2 emissions, we need to use less fossil fuels, or find alternative energy sources, like wind or solar power.

Last week, Brent oil futures in the ICE market hit a low of $74.91/bbl on May 16, decreasing by 3.3% from the previous week. However, the prices went up on May 17, reached its weekly maximum settlement price of $76.96/bbl which was 0.7% higher than the previous week. Prices dropped again until it reached $75.58/bbl on May 19 which was 1.9% higher than that of the previous Friday.

Brent oil futures prices changed in the third week of May because of US debt ceiling negotiations. Prices went down because people worry about inflation rates and interest rate hikes. Additionally, oil stocks in the United States went up, which also lowered prices.

Last Monday, TTF gas futures in the ICE market for the Front-Month reached €32.31/MWh. It was the weekly maximum settlement price but still 12% lower than the previous week. The third week of May had lower settlement prices than the previous week. On Thursday, the weekly minimum settlement price of €29.78/MWh was reached, 15% lower than the previous Thursday. This was also the lowest settlement price since June 2021.

In May's third week, the cost of liquefied natural gas remained low due to an increase in supply and a decline in demand.

The CO2 emission rights futures in the EEX market dropped by 1.7% on May 15. The minimum price of €86.97/t was recorded that day. However, prices rose later and remained above €88/t for the rest of the third week of May. On May 19, the maximum price of the week was €89.88/t - 1.6% higher than the previous Friday and the highest since April 20.

A new era of clean energy is upon us. Renewable energy sources like wind, solar, and hydro are changing the power game. These sustainable energy sources are making traditional fossil fuel options a thing of the past. Renewable energy is not just good for the environment. It's good for business too. It's cost-effective, and it's leading to a reduction in carbon emissions. The future is bright for renewable energy, and we can't wait to see what's next!

Next month, the 34th monthly webinar of AleaSoft Energy Forecasting and AleaGreen will happen. Engie Spain's speakers will participate again. They will talk about renewable energy project financing, PPAs, and important regulations in the Spanish electricity sector. Engie Spain has expertise in these areas. An analysis of the European energy markets will also take place. This will look at the outlook for the second part of 2023 and the upcoming winter.

The writer's opinions in this article are theirs. pv magazine doesn't share them necessarily.

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