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The Agency for the Cooperation of Energy Regulators (ACER) publishes today the first in a series of overviews of European energy market monitoring. The Wholesale Electricity Market Monitoring 2022 – Key Developments report highlights the main wholesale electricity trends in 2022.
What did the ACER monitoring find?
- The energy crisis combined with a mild winter led to a decrease in electricity consumption, which resulted in lower power generation.
- Use of coal-fired power plants significantly increased since 2020, leading to an increase in emissions, while electricity production from renewables has remained almost constant.
- Installed capacity of renewables reached a new record in 2022, while coal-installed capacity decreased.
- There was a sharp increase in day-ahead electricity prices due to the post pandemic economic recovery and the war in Ukraine dramatically affecting gas prices.
- Forward markets also reached high price levels in 2022, especially for products for delivery in autumn and winter months.
- Negative day-ahead electricity prices, which seem to be correlated with demand reduction, reached pre-2019 levels.
Take a look at these dynamic charts for a closer analysis of the main market trends in 2022.
