In mid-April, electricity prices surged across major European markets, reaching peak levels before a slight decline later in the week. The average prices for the week exceeded €95/MWh in most regions, with notable variances among countries. Italy recorded the smallest increase at 2.7%, while France experienced a dramatic rise of 109%. Other markets saw price growth ranging from 21% in Great Britain to 67% in the Nordic region, highlighting significant fluctuations in the energy landscape.
Specifically, during the week of April 13, Italy reported the highest weekly average price at €123.19/MWh, contrasting with Spain and Portugal, which remained below €51/MWh. Spain averaged €50.38/MWh, and Portugal was slightly higher at €50.73/MWh. France’s weekly average settled at €70.93/MWh, indicating a diverse pricing environment across Europe.
Daily price movements also exhibited considerable variation. On April 13, Spain achieved the lowest price of €23.80/MWh, closely followed by Portugal at €23.88/MWh. Conversely, Italy’s lowest daily price since late February occurred on April 18, hitting €89.39/MWh. Notably, several European markets recorded daily prices exceeding €100/MWh at various points during the week, with Italy peaking at €150.62/MWh on April 14 and the Nordic market reaching €111.14/MWh.
The upward trend in electricity prices was attributed to multiple factors, including rising CO₂ allowance prices, decreased wind generation capacity, and heightened electricity demand across many markets. Additionally, lower solar output from Germany and Italy further exacerbated the situation by limiting available renewable energy sources.
Looking forward, analysts from AleaSoft Energy Forecasting predict a potential correction in prices for the fourth week of April as demand is expected to decrease alongside an increase in wind and solar generation across various markets. However, fluctuations in natural gas prices are anticipated to significantly influence short-term dynamics within European electricity markets.
