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Check out the key developments from November 2025 below.
Summary
EU renewables continued to build momentum in November, with their share of electricity generation rising +1.5 percentage points year-on-year to 42.9%, supported by a strong +20% YoY increase in solar output (+2 TWh) driven by ongoing capacity additions. Although renewable generation declined month-on-month, this was a seasonal and expected effect linked to the early-winter drop in solar. And while brief periods of very low wind in Central Western Europe (7–9 and 25–26 November) temporarily lifted local power prices, overall EU renewable generation still increased YoY, underscoring the sector’s resilience.
Electricity demand rose +11.1% MoM as winter conditions became widespread across Europe, while remaining −1.3% YoY. Growth expanded beyond northern and central Europe, with Spain and Portugal seeing some of the strongest MoM increases, and Germany and France contributing around half of the EU-wide rise. The pattern is consistent with a typical onset of winter-season demand across Europe.
Our estimations shows that EU’s average CO₂ intensity increased +11.8% MoM to 198.5 gCO₂/kWh, driven by higher seasonal demand and reduced solar availability. Even so, intensity remained about 10% lower YoY, and total emissions declined −10.7% YoY, with this year’s seasonal rebound significantly softer than last year (2024: +23% MoM vs. 2025: +12% MoM).
November brought some encouraging signs in EU power markets, with high-price hours above €150/MWh falling to 254 (−39% YoY) and the EU-average price down −13.8% compared with last year. Germany showed a similar pattern, experiencing fewer spikes and a lower average price YoY despite weaker wind conditions. Meanwhile, day-ahead prices averaged €96.5/MWh (+8% MoM), reflecting the typical seasonal uptick for this time of year.
Cross-border flows continued to follow established structural patterns: France remained the EU’s largest net exporter (+8.87 TWh), with Sweden and Norway also contributing sizeable exports, while Italy (−3.87 TWh) and Germany (−2.04 TWh) were again the largest net importers.
Overall, November data show that although seasonal conditions raised fossil output and prices MoM, the system performed better in decarbonisation than last year, with lower emissions, fewer extreme price events, and improved YoY stability across key indicators.
Electricity generation
EU renewables continued to show solid year-on-year progress in November, reaching 42.9% of electricity generation—an increase of 1.5 percentage points compared with last year—while total output held steady at 239 TWh. Solar generation grew by 2 TWh YoY (just over 20%), reflecting ongoing capacity additions even as daylight hours declined. Although the renewable share decreased by 3.7 percentage points month-on-month, this shift was seasonal and expected for early winter.
On a MoM basis, solar followed the usual seasonal downward trend seen each early winter across Europe, which naturally reduced the renewable share relative to October. Viewed year-on-year, however, renewable generation still increased, supported by higher solar, wind, and hydro output.
In Germany, wind generation dropped sharply during 7–9 November and again on 25–26 November, falling to around 10% of its average November levels (Wind represent 33% on average in November).These short periods of low wind availability contributed to temporary increases in power prices and illustrate the kind of weather-driven variability that can still affect the system.
Even with these brief dips, average renewable output increased YoY both in Germany and across the EU. Germany recorded an estimated 5% YoY increase in total renewable generation, driven by strong solar additions and steady wind output. At the EU level, higher solar, wind, and hydro generation ensured that renewables remained central to Europe’s power mix in November, despite the typical seasonal decline in solar resources and intermittent low-wind conditions.
Electricity demand
EU electricity demand rose strongly in November as winter-related consumption became more widespread across the continent. Total demand increased 11.1% MoM to 237.0 TWh, compared with a much smaller 2.0% MoM rise between September and October. Although demand remained 1.3% lower YoY, the shift from localized early-autumn gains to broad seasonal growth marked a clear transition into the winter load cycle.
While September and October increases had been concentrated in northern and central Europe, November saw demand rise across nearly all regions, reflecting a continent-wide seasonal effect rather than the structural, region-specific pattern seen earlier. Southern Europe showed the most notable shift, with Spain (+15.1% MoM) and Portugal (+15.9% MoM) moving from minimal October growth to among the strongest monthly increases.
Northern and central Europe also continued to rise, though to varying degrees. Germany (+19.7% MoM) and France (+16.1% MoM) accounted for a significant share of the EU-wide increase, supported by additional gains in Sweden (+14.5% MoM) and Finland (+7.2% MoM).
Overall, November marked a transition from region-specific structural increases in early autumn to a broad seasonal expansion associated with winter conditions. Despite soft YoY readings in several markets, the monthly data indicate a typical winter demand across Europe.
CO2 intensity
November’s CO₂ intensity was still about 10% lower year-on-year, reflecting ongoing structural improvements in the EU generation mix. The monthly level reached an estimated 198.5 gCO₂/kWh, an 11.8% MoM increase driven by seasonal demand and reduced solar output—largely a normal early-winter pattern rather than a structural change.
Total EU power-sector emissions fell by 5.5 Mt CO₂ YoY (−10.7%), supported by lower fossil generation and slightly higher renewables. Notably, last November’s CO₂ intensity jumped by around 23% MoM, compared with a much smaller 12% MoM rise this year, indicating a milder seasonal rebound and a lower-carbon start to the winter period
National differences remained notable according to our CO2 intensity estimates[AO1] . France continued to operate one of Europe’s cleanest systems at roughly 19 gCO₂/kWh, backed by strong nuclear output. The Nordic region also remained firmly in the low-carbon group—Norway near zero at ~6 gCO₂/kWh, and Sweden and Finland in the mid-30s to low-40s due to abundant hydro and nuclear generation. By contrast, Poland again recorded the highest intensity in the EU at over 580 gCO₂/kWh, reflecting its coal-based mix, while Italy remained elevated at around 270 gCO₂/kWh. Germany’s intensity increased to ~345 gCO₂/kWh in November (+13.5% MoM) as gas and coal output rose, but still improved compared with a year earlier (−8.3% YoY), aligning with the broader EU-wide decarbonisation trend.
Overall, the November data show a typical seasonal increase in CO₂ intensity driven by higher heating demand and lower solar generation. Yet the YoY decline in emissions and lower average intensity demonstrate that the EU power system continues to decarbonise structurally, even as winter conditions temporarily push carbon intensity upward.
Day-ahead electricity prices
Despite seasonal pressures, EU power markets showed clear year-on-year easing in November. Price spikes above €150/MWh dropped sharply from 420 hours last year to 254 hours (−39% YoY), and the EU-wide average price fell by −13.8% YoY. Germany mirrored this trend, with its average price down to €102.9/MWh (−9.6% YoY) and spike hours falling from 87 to 60 (−31%), pointing to a relatively resilient system compared to previous years.
Month-on-month, EU day-ahead prices rose to €96.5/MWh (+8.0% MoM), following the usual early-winter pattern seen last year, driven by higher heating demand and a modest increase in fossil generation. Gas prices remained steady at €31.2/MWh, holding the narrow June–November range, while ETS prices edged up to €80.2/tCO₂, adding slightly to marginal gas generation costs.
Regionally, Central Europe recorded moderate MoM increases, driven by higher load and lower renewable availability, while Southern Europe experienced softer prices due to relatively mild system conditions. Italy continued to report some of the highest prices in the bloc, whereas France remained among the lowest, supported by steady nuclear output.
Overall, limited system flexibility continues to constrain the market’s ability to smooth volatility during low-wind periods, though conditions improved relative to last year. —the market nonetheless showed clear YoY improvement, with fewer price spikes and a more stable pricing environment across Europe.
Cross-border flows
France remained the EU’s largest net exporter in November, delivering around +8.87 TWh, supported by steady nuclear availability. Sweden and Norway also continued to export significant volumes, with Sweden at +2.89 TWh and Norway at +1.85 TWh, sustaining strong north-to-south flows within the region.
On the import side, Italy (−3.87 TWh) and Germany (−2.04 TWh) were again the largest net importers, reflecting higher domestic demand and lower renewable availability during parts of the month. The Netherlands shifted into a stronger import position as well, while Austria and Hungary recorded deeper net-import balances compared with October.
Overall, November showed a continuation of the established pattern: France and the Nordics acted as Europe’s primary exporters, while Italy and Germany remained the largest structural importers.
Check all the data here or contact Mohammed Abi Afthab Olikathodi (aolikathodi@eurelectric.org)
Disclaimer: The latest estimates for electricity generation, demand and CO2 intensity are provided by Eurelectric, based on the most recent hourly data from ENTSO-E and monthly data from Eurostat of the previous year. These figures are subject to slight revisions as actual data becomes available. The aggregate statistics mentioned here refer to the EU-27.