The European Commission says renewables are playing a central role in lowering spot prices and stopping rises in network charges and fees. In the EU energy market, however, coal and gas still dominate, ensuring power prices are unpredictable. “Renewable energy growth also plays a direct role in mitigating and diminishing the negative impact of uncertain global fossil fuel prices and exchange-rate risks.” That is one of the main conclusions of the Energy Prices and Costs in Europe report published by the European Commission, in which the authors point out several responses to address increasingly volatile electricity prices. The authors of the report stated renewables generally lower prices on the spot market and noted the market in the European Union is still dominated by coal and gas. “These prices usually set the marginal price and are responsible, for instance, for the price rise since the summer of 2016,” the report states.
PV Magazine 18th Jan 2019 read more »