June 12, 2024
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HomeUncategorizedEurope: Electricity prices ranged between 16 and 103 euros/MWh in week 22

Europe: Electricity prices ranged between 16 and 103 euros/MWh in week 22

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According to AleaSoft Energy Forecasting, in the last week of May, prices in most major European electricity markets fell compared to the previous week. The exceptions were the IPEX market of Italy and the Nord Pool market of the Nordic countries, with increases of 6.7% and 12%, respectively.

On the other hand, the EPEX SPOT market of France and the MIBEL market of Portugal and Spain had the largest percentage price drops, 56%, 59% and 60%, in each case. In the other markets analyzed at AleaSoft Energy Forecasting, prices fell between 5.6% in the N2EX market of the United Kingdom and 13% in the EPEX SPOT market of the Netherlands.

In the last week of May, weekly averages exceeded €55/MWh in most analyzed European electricity markets. The exceptions were the French, Spanish, Portuguese and Nordic markets, with averages of €16.13/MWh, €18.61/MWh, €19.08/MWh and €27.60/MWh, respectively. On the other hand, the Italian market registered the highest weekly average, €102.60/MWh. In the rest of the analyzed markets, prices ranged from €56.58/MWh in the Belgian market to €84.71/MWh in the British market.

Regarding hourly prices, most analyzed European markets registered negative prices on Sunday, June 2. The exceptions were the British and Italian markets, which did not register negative prices in the last week of May. On the other hand, the Belgian and Dutch markets also registered negative prices on Saturday, June 1. In the case of the Spanish, French and Portuguese markets, in addition to the weekend, these markets also registered negative prices on Friday, May 31. The Dutch market registered the lowest hourly price of the last week of May, €81.00/MWh. This price corresponded to Sunday, June 2, from 15:00 to 16:00.

During the week of May 27, increased wind energy production and lower demand in some markets exerted their downward influence on European electricity market prices. The increase in solar energy production in the Iberian Peninsula also contributed to lower prices in the MIBEL market. In contrast, production with these technologies decreased in Italy. This, together with a slight increase in the average gas price, led to higher prices in the IPEX market.

AleaSoft Energy Forecasting’s price forecasts indicate that they will increase in most analyzed European electricity markets in the first week of June, influenced by a decrease in wind energy production and an increase in demand in most cases. In addition, in markets such as Spain and Italy, solar energy production will fall, favouring the expected price increase, AleaSoft Energy Forecasting reports.

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