According to AleSoft Energy Forecasting, in the last week of March, the Iberian MIBEL market registered the lowest prices in Europe for the eighth consecutive week and the Spanish market registered negative prices for the first time in its history on April 1. In most major European electricity markets, prices fell compared to the previous week. In several markets, this was the week with the lowest average, or the second lowest average, in 2024 so far. Declining demand and increased renewable energy production favoured these declines. Portugal and France registered wind energy production records for March month on the 27th and 28th, respectively.
In the week of March 25, solar energy production decreased in most major European electricity markets compared to the previous week. The Italian market registered the largest drop, 33%, reversing the upward trend of previous weeks. The Portuguese market, which had the smallest decline, 16%, fell for the second consecutive week. The German market was the exception. In this market, solar energy production increased by 13%, continuing the upward trend of the previous week.
For the week of April 1, according to AleaSoft Energy Forecasting’s solar energy production forecasts, the downward trend will reverse and solar energy production will increase in Germany, Spain and Italy, AleSoft Energy Forecasting reports.
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