Record solar power generation and the second-highest wind output ever recorded were key characteristics of the European electricity market in the third quarter this year, according to a new report from energy market intelligence provider Montel Analytics.
The study showed that solar generation in Europe across the quarter totaled 94.0 TWh – the largest on record. This also represents a 15% increase from Q3 2023. The biggest contributors were Germany, Italy, and Spain, which generated 24.8TWh, 16.9TWh, and 9.7TWh respectively.
Meanwhile, wind output totaled 104.7TWh in this period – the second highest on record and the biggest volume recorded in any Q3 period. The figure in the most recent quarter represented a 2% increase in Q3 2023 and a 20% increase in Q3 2022. The main contributors were Germany (24.6TWh), Britain (16.7TWh), and Spain (12.3TWh).
Increased wind and solar generation, along with a lack of demand-side response mechanisms, meant that the number of instances when day-ahead prices dropped to zero or below continued to climb in many countries, including Finland, Sweden, Germany, and the Netherlands.
This came after Spain and Portugal saw negative prices for the first time in the first six months of the year.
