In the first week of March, prices of most European electricity markets rose compared to the previous week, influenced by the increase in demand caused by the drop in temperatures. Regarding the photovoltaic energy production, on March 2 a record was reached in Portugal and on the 3rd the highest in a month of March was registered in Spain. On the other hand, gas futures reached the lowest price since August 2021 and CO2 futures, the second highest in history.

Solar photovoltaic and thermoelectric energy production and wind energy production

During the first week of March, the solar energy production increased compared to the previous week in all European markets analysed at AleaSoft Energy Forecasting. The largest rise was that of the German market, of 48%. In the French and Spanish markets, the increases were 40%, while in the Italian market the production increased by 36%. On the other hand, the smallest increase in solar energy production, of 11%, was registered in the Portuguese market.

However, while in the rest of the markets the weekly maximum daily productions were the highest since September 2022, in the case of Portugal, on March 2 a record daily solar photovoltaic energy production of 11.6 GWh was reached. In the case of the Spanish market, on Friday, March 3, a solar photovoltaic energy production of 107 GWh was reached, which is the highest since the beginning of September 2022 and the highest registered in a month of March.