Day-ahead prices and renewable energy generation in 2022

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Renewable energy generation share in a country electricity mix

The day-ahead prices observed in the 5 countries with the most renewable energy generation share in their electricity mix were:

Norway (98.97%) - 192.5 €/MWh
Denmark (83.97%)  - 219 €/MWh
Austria (76.29%)  - 261.4 €/MWh
Lithuania (74.82%) - 230.6 €/MWh
Latvia (72.13%) - 227.3 €/MWh

The superiority of northern Europe is clear. Made possible by the significant investments in renewable energy generation technologies throughout previous years, 2022 registered a solidifying position for this group of countries that rely heavily on their wind and hydro generation.

The day-ahead prices observed in the 5 countries with the least renewable energy generation share in their electricity mix were:

Czech Republic (12.34%) - 247.4 €/MWh
Poland (21.05%) - 166.7 €/MWh
Hungary (21.19%) - 271.7 €/MWh
Slovakia (22.67%)  - 264.9 €/MWh
France (24.54%) - 275.9 €/MWh

Eastern Europe is lagging when it comes to renewable energy generation and there are still major developments to be done. It is worth noting that France, despite having one of the lowest generation shares, had the 5th highest day-ahead price of the 25 countries, a likely result of ongoing issues related to nuclear plants.

Renewable energy capacity Share in a country electricity mix

The day-ahead prices observed in the 5 countries with the most renewable energy capacity share in their electricity mix were:

Norway (98.97%) - 192.5 €/MWh
Switzerland (82.3%) - 281.7 €/MWh
Austria (76.29%) - 261.4 €/MWh
Sweden (77.5%) - 129.2 €/MWh
Portugal (72.0%) - 167.9 €/MWh

It is possible to validate Norway and Austria as leading countries in renewable energy developments, with their day-ahead prices relatively low (19th and 10th, respectively) in comparison to the group in which Italy tops with 308.4 €/MWh. Switzerland, on the other hand, despite having the 2nd highest capacity share, had the 2nd highest day-ahead price of the 25 countries.

The day-ahead prices observed in the 5 countries with the least renewable energy capacity share in their electricity mix were:

Czech Republic (23.1%) - 247.4 €/MWh
Slovakia (32.1%) - 264.9 €/MWh
Hungary (33.6%) - 271.7 €/MWh
Serbia (35.1%) - 273.7 €/MWh
Poland (36.9%) - 166.7 €/MWh

As seen in the generation, the east of Europe still has a long road ahead to increase renewable energy in its electricity mix. The Czech Republic comes as the least advanced country in both renewable energy generation and capacity.

While Europe is still far from a homogeneous picture for renewable energy in its electricity mix, these findings highlight the importance of investing in renewable energy to help reduce energy prices in the long run.

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