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LITTLETON, Colorado - Wholesale power prices coming under pressure from surging solar output is not a new concept in power markets, but looks set to become a potentially divisive issue across Europe as rampant expansions in solar output upend market pricing patterns.
Europe's integrated power markets must brace for similar periods of price disruption, following rapid expansions in solar capacity across the continent. And in the longer term, consumers will also be better protected from future fuel price shocks once the build out of home-grown renewable power capacity is complete.
That rapid growth pace has allowed for solar power to grab a growing share of Europe's total electricity generation mix, which has doubled from around 5% during the summer of 2019 to just under 11% last summer, and the highest of all regions. The capture price is a weighted average price during which the power generation asset produces electricity, and is expressed relative to the baseload contract price paid to fossil fuel-based power producers.
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