In the second week of February, prices increased in most of Europe's core electricity markets, with weekly averages exceeding €140/MWh. But in the Iberian Peninsula, increased wind power and reduced electricity demand pushed prices down. The French market broke the record for the highest single-day PV production in February. On Monday, February 10, TTF gas futures prices peaked at more than €58/MWh in early February 2023.

Regarding solar PV and wind production, PV production in the main European power markets fell in the week of February 10 compared to the previous week. This decline came after two consecutive weeks of growth. Compared to the first week of February, the German and Portuguese markets saw the largest declines in PV production, down 38% and 17%, respectively. On the other hand, the Spanish market saw the smallest decline, at just 0.4%.

Despite a 2.8% drop in production this week compared to the previous week, the French market set a new record for solar PV production in February. On Saturday, February 15, France produced 79 GWh of solar PV, surpassing the previous record of 68 GWh set on February 3.

Solar PV generation will increase in Spain, Germany and Italy in the week of February 17, reversing a decline from the previous week, according to AleaSoft Energy Forecasting.

Wind generation fell across most European markets in the week of February 10, with France seeing the largest decline of 23%, while Italy and Germany saw declines of 13% and 10%, respectively. However, wind generation in Portugal and Spain on the Iberian Peninsula increased by 40% and 12%, respectively. Wind energy production is expected to rise in France and Spain in the week to February 17, while it will fall in Germany, Italy and Portugal.