Market values of European wind and solar output plunged in April as power prices continued to fall, Platts Renewable Energy Price Explorer shows.
Spanish capture prices hit a record-low with the solar falling to Eur8.15/MWh capturing only 56% of April’s spot price average, according to Platts assessments for S&P Global Commodity Insights.
In Germany, solar values fell to a 2020-low averaging Eur46.84/MWh and capturing 80% of the average spot price.
The Explorer shows the "capture price" renewable energy generators receive based on hourly output and pricing data on a monthly average basis.
As such capture prices take account of the cannibalization effect caused by Europe's growing fleet of solar and wind farms and are a more accurate reflection of value than average day-ahead wholesale power prices.
Elsewhere, Italian capture prices remained highest due to low renewables penetration and a gas-driven premium for the underlying power price.
UK wind captured around 75% of wholesale market value in April averaging below GBP40/MWh with daily assessments ranging from GBP4/MWh to GBP78/MWh.
Overall, combined wind and solar output across the Big Five markets rose 5% year on year to 49 TWh, while the number of negative hourly prices soared across many markets indicating longer periods of oversupply.
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The dial chart shows monthly wind, solar, nuclear, gas and coal-fired generation across Europe's five biggest power markets. Click a segment for more detail.