AMSTERDAM–(BUSINESS WIRE)–European power markets are experiencing ongoing supply-side changes as a large volume of conventional generation capacity is closing. Simultaneously, Genscape’s proprietary monitoring and field research across the European continent shows many new projects planned, or under construction, that will strongly affect the generation mix in some countries, particularly with the development of large offshore wind farms.
“The most significant medium-term capacity changes will take place in Germany. Newly installed capacity between 2014 and end of 2016 could exceed 10GW, of which 2.8GW is currently under construction,” said Pierre Buisson, research manager on Genscape’s European power market team.
Additionally, about 9GW of German power generation has been closed or mothballed since 2014, with 6.6GW expected to shut down by the end of 2017.
Important capacity reductions are also expected in the United Kingdom. The biomass plant Ironbridge 2 was stopped in November 2015, and the nuclear reactor Wylfa 1 is expected to close in the coming weeks. A further net decrease of 3.8GW is expected to take place near the end of Q1 2016 via the closure of three large coal plants: Eggborough, Longannet and Ferrybridge 3.
Detailed data and analysis of the current and future state of Europe’s power supply stack is available by request by emailing email@example.com.
Information on Genscape’s proprietary, real-time European power generation data is available here: http://info.genscape.com/eu-power-real-time.
Additional information about the EPSI platform’s analytical tools for power market fundamentals is here: http://info.genscape.com/EPSI-learn-more
Genscape is the leading global provider of real-time data and intelligence for commodity and energy markets, driven to improve market transparency and efficiency. With thousands of patented monitors strategically deployed worldwide, Genscape is unique in its ability to collect and report proprietary market fundamentals in real-time or near real-time. Genscape delivers innovative solutions across a number of asset classes including: Oil, Power, Natural Gas and LNG, Agriculture, Petrochemical and NGLs, Maritime, and Renewables. Genscape clients often gain important insights, improve risk management, or increase operational efficiency. For more information, please visit: www.genscape.com