During the fourth week of May, most major European electricity markets saw an early phase of price increases followed by a gradual easing toward the end of the week. In several markets, prices moved lower in later sessions after initial upward pressure, leading to lower weekly averages across much of the region.
Italy, Spain, Portugal and France were the main exceptions, with weekly price increases of 6.2%, 25%, 25% and 27%, respectively. The Nordic market recorded the largest decline, with prices falling by 36%. Among the remaining markets, declines ranged from 1.1% in Great Britain to 10% in Germany.
Weekly average levels across key European power markets
Weekly average prices stayed below €95/MWh in most European markets during the period. The United Kingdom and Italy were higher than the regional range, averaging €121.97/MWh and €123.58/MWh, respectively. The Nordic region recorded the lowest weekly average at €48.37/MWh.
Elsewhere, weekly averages generally fell between €60.70/MWh in Spain and Portugal and €94.90/MWh in Germany. Daily outcomes varied within the same week, including multiple sessions where prices dropped below €35/MWh.
Daily lows and high-price episodes
On a daily basis, Spain, France, the Nordics and Portugal each recorded at least one session with prices below €35/MWh. The lowest daily average was registered in the Nordic market on May 27, when prices fell to €21.97/MWh.
By contrast, British and Italian markets remained above €100/MWh throughout the week. Additional high-price episodes occurred in Germany, Belgium and the Netherlands on May 28 and 29.
The highest daily average was reached in Italy on May 27 at €134.53/MWh. These daily extremes aligned with broader weekly patterns that showed both declines and increases depending on market.
Drivers of price changes and early-June outlook
Price movements during the week reflected a mix of factors across gas, wind and solar conditions. Lower gas prices and stronger solar generation exerted downward pressure across many markets.
In some regions, weaker demand and higher wind output reinforced price weakness, particularly in Germany. However, reduced wind generation in France, Italy and the Iberian Peninsula combined with higher electricity demand to support higher prices in those markets.
Forecasts point to potential increases for most major European markets in the first week of June. Lower solar generation is expected to be a key driver, alongside higher demand in some cases; France and Italy could still see declines linked to weaker consumption and stronger wind production, with Italy also supported by higher solar output . Gas prices are expected to remain important for shaping European electricity market dynamics ahead .
