HIGH PRICES CONTINUE THIS WEEK IN THE EUROPEAN ELECTRICITY MARKETS
AleaSoft, June 7th, 2018.- Prices have remained high in the main European electricity markets this week due to low renewable production, several unavailabilities and fuel and CO2 emissions rights prices that remain high.
The last seven days in the main European electricity markets have been characterized by high prices (Iberian market MIBEL, Italian IPEX and British N2EX) or by a clear upward trend (EPEX SPOT German and French markets, and Nordic NordPool). The main causes of these high prices are the unavailability of production units in several countries, low renewable production (mainly wind energy), and high fuel and CO2 emission rights prices.
During the last week, all products of the OMIP futures market for the Spanish power receded, mainly for delivery in 2018. In the rest of European electricity futures markets, the general trend has been a stable behavior.
Sources: OMIE, EPEX SPOT, N2EX, IPEX and NordPool.
In Spain, the unavailability of three nuclear power plants has continued this week. Ascó II reactor run on Sunday and Monday at 60% of its maximum power but had to stop again due to a leak detected in a water pump. Today, Thursday, he has scheduled a start ramp again. The peninsular wind production remained low as in the previous week, at levels 45% below the usual at this time of year. Temperatures slightly lower than usual modestly moderated the peninsular demand.