France, Germany, Portugal, Spain set daily solar records

France, Germany, Portugal and Spain all set new records for daily solar production last week, according to the latest analysis from AleaSoft Energy Forecasting.

The Spanish consultancy found Germany generated 503 GWh of solar energy on May 28, the same day France reached 179 GWh. A day later, Spain produced 265 GWh and Portugal 32 GWh.

The milestones represent another record-breaking week for solar production in Europe after France, Germany, Italy and Portugal all set new solar records for a day in May the week prior. Italy broke its record for solar production in May again last week, reaching 161 GWh on May 26.

AleaSoft’s analysis of electricity prices found the weekly average electricity price decreased last week across the Belgian, British, Dutch, German and Nordic markets, which it attributes to higher solar and wind energy production, as well as lower electricity demand.

Despite their daily solar records, France, Portugal and Spain, alongside Italy, saw a week-on-week increase in their average electricity price, which AleaSoft says was caused by a drop in wind energy production and higher demand.

The average electricity price was below €95 ($110.38)/MWh in all analyzed markets except the British and Italian market, which saw averages of €121.97/MWh and €123.58/MWh. The Nordic market registered the lowest average of the week, at €48.37/MWh.

AleaSoft is expecting this week to bring an increase in the average electricity price across most markets, driven by less solar production and higher demand.

The consultancy’s analysis of TTF gas futures in the ICE market found prices reached their lowest settlement of the week on May 25, at €45.43/MWh, before reaching their highest settlement of the week, at €47.47/MWh, the day after.

By the end of the week, TTF gas futures had settled at €46.00/MWh, 5.5% lower than the week prior.

“The conflict in the Middle East continued to influence the trend in TTF gas futures prices during the fourth week of May,” AleaSoft explains. “Expectations of an agreement between the United States and Iran exerted downward pressure on prices, keeping them below €50/MWh. However, low European storage levels and higher demand driven by high temperatures limited further declines.”