Recording a 22% YoY increase, solar and wind energy generation in Germany in May totaled just under 10 TWh. This, combined with improved hydropower levels in the Alps and Nordic region, saw European power prices plunging 16.4%, from 32.72/MWh in May 2014, to 27.37/MWh this May. Compared to the previous month, April, prices decreased 24%, from 36.03/MWh, based on Platts Continental Power Index (CONTI).
In Germany, average day-ahead electricity prices totaled 25.30/MWh, thus representing the lowest monthly average in 12 years, "as wind, solar and hydro combined to crash the prompt market," wrote Platts. Overall, day-ahead prices dropped 16% MoM and 19% YoY, with solar and wind outstripping the energy production of the countrys nine remaining nuclear reactors.
In comparison, at £40.82/MWh (around 57.38/MWh), day-ahead power prices in the U.K. decreased by 6% from April, but rose 2% from May 2014. Despite it being Europes leading solar market, wind farms and gas fired power stations helped to off-set a drop in coal-fired output, with wind generation almost doubling its May 2014 output, to over 2 TWh.
France saw day-ahead price reductions of 34% MoM and 13% YoY as a result of declining power consumption. Nuclear generation decreased 4% YoY, and hydropower, 3.6%.
In June, wrote Platts, "strong" solar generation was "keeping a lid on prompt prices in Germany and surrounding markets." It added that day-ahead prices in Germany on June 23 were 32.50/MWh.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.