Electricity prices rose sharply across most major European markets in the second week of July, with the strongest increases in the Iberian Peninsula. Weekly average prices increased in Portugal by 70% and in Spain by 61%. Gains in other markets ranged from 6.8% in Italy to 18% in France, while the Nordic market climbed by 7.1%.
Prices fell in several northern European markets during the same period. Germany recorded a weekly average decrease of 6.7%, Belgium fell by 3.3%, and the Netherlands declined by 6.0%. The differences were linked to variations in renewable generation, electricity demand, fuel costs and regional market conditions.
Weekly averages during the week beginning July 6
For the week beginning July 6, Italy posted the highest average electricity price among the analysed European markets at €144.09/MWh. Great Britain followed with an average of €118.92/MWh, while Belgium recorded €108.38/MWh. Portugal, Spain, the Netherlands and Germany ranged between €98.33/MWh in Germany and €107.68/MWh in Portugal.
France registered an average electricity price of €92.42/MWh for the same week. The Nordic market remained the most affordable at a weekly average of €56.68/MWh. These figures describe relative price levels across the analysed regions during that seven-day period.
Daily price ranges across European markets
Daily price movements varied considerably between markets during the second week of July. The Nordic market recorded multiple daily averages below €45/MWh, reaching its lowest daily level on July 12 at €39.86/MWh. In most other European markets, daily prices stayed above €70/MWh throughout the week.
Several markets also saw daily prices above €100/MWh during the period, with the Nordic region as the only exception. Italy recorded the highest daily average on July 9 at €153.73/MWh. Portugal reached its highest level since March 11 on July 8 at €123.12/MWh, while Spain hit its highest level since that date on July 10 with an average of €117.85/MWh.
Prices continued to rise in both Iberian markets on July 13, although they remained below levels observed on March 10. AleaSoft Energy Forecasting expects these short-term dynamics to remain sensitive to generation and fuel-price movements into late July .
Drivers of price changes and outlook for late July
The increase in electricity prices was mainly driven by higher natural gas and CO₂ allowance prices, which raised generation costs across European power markets . Lower wind generation in Spain, Portugal and Italy also supported higher prices there.
Higher electricity demand contributed to upward pressure in France and Great Britain during the second week of July. In Germany, stronger wind and solar photovoltaic production helped reduce price levels compared with other periods.
Looking ahead to the third week of July, AleaSoft Energy Forecasting expects electricity prices to continue increasing across most major European markets, supported by higher demand in some regions . The forecast also points to lower wind generation in Germany and France, reduced solar production in Spain and movements in natural gas prices as key factors shaping short-term developments across Europe .
