According to AleaSoft Energy Forecasting, in the first week of June, prices in most European electricity markets increased compared to the previous week. Germany registered the highest price since the end of November 2023, €235.52/MWh, on June 4 from 20:00 to 21:00. The increases were largely driven by the general decline in wind energy production. Despite the increases, most markets registered negative prices forsome hours.
Photovoltaic energy registered daily production records for a June month in Germany, Italy and Portugal, and the third highest value in history in Spain. On June 3, TTF gas futures reached theirhighest settlement price since the first half of December. However, the weekly gas average was lower, as was CO2.
In the first week of June, solar energy production increased compared to the previous week in the German, French and Italian markets, by 37%, 32% and 9.6%, respectively. However, in the Iberian Peninsula, there were decreases, of 22% in Portugal and 12% in Spain. In the case of Spain, solar energy production includes solar photovoltaic energy and solar thermoelectric energy.
Despite a decline in weekly production in Spain, on June 4, photovoltaic energy registered the third highest production ever in this market, 187 GWh. In the first week of the month, Germany, Italy and Portugal registered the highest daily production for a June month in history. In Germany and Italy this happened on June 6, with 362 GWh and 128 GWh, respectively. Portugal reached this milestone on June 3, with 20 GWh produced using this technology.
According to AleaSoft Energy Forecasting’s solar energy production forecasts for Germany, Spain and Italy, in the second week of June it will be lower than in the first week of the month, AleaSoft Energy Forecasting reports.
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