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POWER: Growing EU Solar Capacity To Cover Demand Growth

POWER
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European power demand between October 2024 and March 2025 is forecast to rise by 36TWh, or 2.2%, year on year, with new solar PV capacity expected to cover 20TWh of the increase this winter according to ICIS, cited by Bloomberg.  

  • Onshore, offshore wind, nuclear, gas and lignite output is forecast to increase winter on winter, while hydropower and hard-coal output is forecast to fall winter on winter.
  • “The European power market is in a pretty comfortable position from a supply-and-demand perspective heading into the winter period,” Matthew Jones, head of power analytics at ICIS, said.
  • Power prices this winter are still sensitive to temperatures with German power prices to average €95.3/MWh this winter under the base scenario, with prices falling to €82.60/MWh with a mild winter or rising to €108.92/MWh with colder than average winter. 

     
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European power demand between October 2024 and March 2025 is forecast to rise by 36TWh, or 2.2%, year on year, with new solar PV capacity expected to cover 20TWh of the increase this winter according to ICIS, cited by Bloomberg.  

  • Onshore, offshore wind, nuclear, gas and lignite output is forecast to increase winter on winter, while hydropower and hard-coal output is forecast to fall winter on winter.
  • “The European power market is in a pretty comfortable position from a supply-and-demand perspective heading into the winter period,” Matthew Jones, head of power analytics at ICIS, said.
  • Power prices this winter are still sensitive to temperatures with German power prices to average €95.3/MWh this winter under the base scenario, with prices falling to €82.60/MWh with a mild winter or rising to €108.92/MWh with colder than average winter.