Fossil fuel electricity generation in Europe fell to its lowest recorded level in the second quarter of 2024.
That’s according to a new report by Montel Analytics, which suggests the period also saw record high solar and wind power output, leading to an increased number of negative day-ahead electricity prices across Europe.
Fossil fuel generation totalled 131.9TWh during the quarter, marking a 24% decrease compared to Q2 2023.
Gas and coal saw declines of 27% and 28% respectively, with lignite falling by 12%.
In contrast, solar power generation increased by 15% to 86.2TWh and wind power rose by 9% to 107.6TWh.
The report notes that demand for electricity in Europe continued its downward trend, influenced by the ongoing expansion of solar and wind capacity and a lack of demand-side response.
This led to a significant rise in the number of hours with day-ahead prices at or below €0/MWh.
Gas prices experienced a slight recovery in Q2 2024, with the average TTF price rising to €31.49 (£26.4)/MWh, up 15% from €27.45 (£23)/MWh in Q1.
This increase was driven by various factors, including tensions in the Middle East affecting LNG shipments, a halt in Russian gas flows to Austria and reduced supplies from Norway due to maintenance.
Jean-Paul Harreman, director at Montel Analytics, said: “The biggest declines in gas-fired generation were observed in the UK (8.42TWh), Italy (8.22TWh), France (6.84TWh) and Germany (5.60TWh). Germany saw the biggest fall in coal output (2.37TWh), while Poland (1.38TWh), Italy (1.29TWh) and the Netherlands (1.27 TWh) also saw substantial decreases.
“The key drivers behind this trend include higher renewable generation and steady demand.”
