In the second week of February, prices climbed in most of Europe's core electricity markets, with the weekly average exceeding €140/MWh. But in the Iberian Peninsula, the increase in wind power and the reduction in electricity demand pushed prices down. The French market broke the record for the highest single-day photovoltaic power generation in February. On Monday, February 10, the TTF natural gas futures price reached its peak in early February 2023, exceeding €58/MWh.
Regarding solar photovoltaic and wind production, photovoltaic power generation in major European power markets decreased in the week of February 10 compared with the previous week. This decrease occurred after two consecutive weeks of growth. Compared with the first week of February, the German and Portuguese markets saw the largest decreases in photovoltaic power generation, with 38% and 17% decreases respectively. The Spanish market, on the other hand, saw the smallest decrease, at only 0.4%.
Despite a 2.8% drop in production this week compared with the previous week, the French market set a new record for solar photovoltaic power generation in February. On Saturday, February 15, France reached 79 GWh of solar PV generation, surpassing the previous record of 68 GWh on February 3.
Solar PV energy production is forecast to increase in Spain, Germany and Italy in the week of February 17, which would reverse the decline in the previous week.
Wind power generation fell in most European markets in the week of February 10, with France falling the most by 23%, Italy and Germany by 13% and 10% respectively. However, wind power generation in Portugal and Spain on the Iberian Peninsula rose by 40% and 12% respectively. In the week of February 17, wind energy production is expected to rise in France and Spain, while it will fall in Germany, Italy and Portugal.