In the last week of November, prices in the main European electricity markets rose compared to the previous week. This increase was due to the drop in temperatures, which in most markets was more than 3°C, which boosted electricity demand. In addition, renewable energy production was lower than the previous week. On November 30, CO2 futures reached their lowest settlement price since October 2022. Gas futures decreased.
In the week of November 27, the main European electricity markets registered a decrease in solar energy production compared to the previous week. The German market registered the largest decline, which was 59%. The Spanish, Portuguese, French and Italian markets followed the German market, falling by 45%, 44%, 27% and 19% respectively.
According to AleaSoft Energy Forecasting’s solar energy production forecasts, it will recover in Spain in the first week of December, while it will continue declining in Italy and Germany.
As for wind energy production, the Italian, Spanish and Portuguese markets registered an increase in production using this technology during the week of November 27 compared to the week of November 20. The increases were 32%, 7.7% and 3.0%, respectively. However, in the German market, wind energy production decreased by 54%, while in the French market, it decreased by 19% during the analyzed period.
AleaSoft Energy Forecasting’s wind energy production forecasts indicate an increase in production using this technology in most of the analyzed markets for the week of December 4, except in Italy.
