According to AleaSoft Energy Forecasting, in the third week of October, European electricity market prices registered an upward trend in most cases compared to the previous week. In the MIBEL market, prices fell due to high wind energy production, which reached an all‑time record in Portugal and the highest value so far in 2023 in Spain. Gas prices averaged higher than the previous week, electricity demand rose, and solar energy production fell.
In the third week of October, solar energy production decreased in all major European markets compared to the previous week. The largest declines, which were around 40%, were registered in Portugal, Spain and Italy, while the smallest drop, 11%, was registered in the German market.
For the fourth week of October, solar energy production is expected to increase in all analyzed markets compared to the previous week.
In contrast, the third week of October brought a week‑on‑week increase in wind energy production in most of the major European markets. The Portuguese and Spanish markets were the most prominent, with increases of 294% and 272%, respectively. In addition, on October 17, the Portuguese market broke its all‑time record with a daily wind energy production of 108 GWh.
During the same week, on October 20, 420 GWh was produced from wind energy in the Spanish market, the highest value since December 2021. The German market was the only one where wind energy production decreased, by 14% compared to the previous week.
For the week of October 23, AleaSoft Energy Forecasting’s wind energy production forecasts indicate that it will decrease in all analyzed markets except Italy.
