The electricity price was quite stable this week. The production of renewable energy remained at about the same level. In addition, the RVO announced that the government has narrowly achieved the target in the energy agreement for onshore wind energy.
The electricity price was particularly stable this week. There was less than €10 difference between the daily prices. On Tuesday, May 3, the EPEX recorded a level of €98,85. After that, the electricity price dropped constantly to €86,20. On Monday, May 8, the electricity price was at its highest point of the week, at €99,70.
The stability is the result of large and evenly distributed production of renewable energy throughout the week. About half of all electricity was generated from renewable sources. About 40% was generated from solar and wind energy. Solar energy appears to have taken over from wind turbines as a driver of renewable energy production. More than 30% of all electricity was generated by solar collectors last week. Wind turbines produced only 10,1% of electricity.
Partly due to increasing electricity production from renewable sources, the electricity price will drop almost constantly in 2023. A downward trend in electricity prices was also visible in April. In February, electricity was trading at around €130 per megawatt hour and in March the electricity price was around €120. In April, the electricity price fell to around €100. With this position, prices are back around the level of the summer of 2021.
Energy agreement target narrowly achieved
In addition, the Netherlands has removed its target for onshore wind power from the energy agreement, the RVO announced yesterday (May 8). In 2013, the government committed itself to generating at least 6.000 megawatts of onshore energy. By the end of 2023, production increased to 6.035 megawatts. However, the goal was achieved later than the signatories of the energy agreement initially envisioned. In 2013 it was agreed that the target should have been achieved by 2020. Because the goal turned out to be unattainable in 2017, the deadline was postponed to 2023. Although the new deadline came with a condition. The portion that was not achieved in 2020 would double in 2023. This target was also achieved, because the production of solar energy was also included in this new target.
Moreover, the growth of wind energy capacity is unlikely to stop anytime soon. The RVO expects that onshore wind power will increase by 2023 megawatts in 835, an increase of almost 14%.