Stats › Currencies and commodities › Weather and power prices
Solar irradiance moves power prices only where there is solar, and France shows no wind effect at all
| Country | Temperature | Wind speed | Irradiance | Precipitation |
|---|---|---|---|---|
| Denmark | below 5 C | 15 to 20 m/s | not significant | above 4000 |
| France | below 0 C | not significant | not significant | 4000 to 5000 |
| Germany | below 5 C | 7 to 13 m/s | not significant | 400 to 1100 |
| Italy | below 10 C and above 24 C | above 13 m/s | 6000 to 8000 | not significant |
| Norway | below 5 C | above 14 m/s | above 7000 | 500 to 2000 |
| Spain | below 10 C and above 20 C | above 20 m/s | above 4500 | 1500 to 2500 |
Weather bands in which wholesale day ahead prices rise significantly at 95 per cent confidence, from a distributed lag nonlinear model with twenty lags, natural cubic splines with seven degrees of freedom, and the Dutch gas price as a control. Daily data from 1 January 2015 to 30 December 2022, 2,085 observations per country. Irradiance is in watt hours per square metre and precipitation in hundredths of a millimetre.
A nonlinear study of six European power markets finds significant temperature, wind, irradiance and rainfall thresholds that differ by country. Irradiance matters in Italy, Spain and Norway and not in Denmark, France or Germany. France shows no significant wind effect.
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