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Analysis first half of 2024

European electricity market prices fell in the first half of the year while renewable technologies registered all time records

AleaSoft Energy Forecasting, July 2, 2024. In the first half of 2024, prices fell compared to the previous six months in most major European electricity markets. On a year‑on‑year basis, the decline was widespread. The Spanish market registered the lowest price in this period. In almost all markets the average price for the first six months of 2024 was the lowest since the first or second half of 2021. Half‑yearly photovoltaic energy production was the highest ever in all markets, a milestone also reached by wind energy in some cases. Electricity demand increased year‑on‑year in most markets, while gas and CO2 prices declined.

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