During the fourth week of April, average electricity prices in most major European markets saw an increase compared to the previous week, with the highest price rises occurring during the earlier days of the week. However, prices dropped over the weekend, leading to a nearly unchanged weekly average for the EPEX SPOT market in Germany, which fell by just 0.01%. The largest percentage price increases were observed in the Nord Pool market of the Nordic countries, which rose by 139%, and in the MIBEL market covering Spain and Portugal, which saw increases of 177% and 181%, respectively. Other markets, including Belgium, France, and Italy, experienced price rises ranging from 1.3% in Belgium’s EPEX SPOT market to 59% in France’s EPEX SPOT market. The IPEX market in Italy, on the other hand, saw a 13% decrease in weekly prices.
Despite these price increases, weekly averages in most European markets remained below €85/MWh. The exceptions were the Italian market and the N2EX market in the United Kingdom, which had weekly averages of €88.95/MWh and €93.48/MWh, respectively. The lowest weekly averages were in the Portuguese and Spanish markets, where prices averaged €36.20/MWh and €37.63/MWh, respectively. Prices in other markets ranged from €53.24/MWh in the Nordic countries to €82.61/MWh in Germany.
In terms of daily prices, Sunday, April 27, saw prices below €35/MWh in most major European markets. On that day, the Italian market had the highest average daily price at €62.58/MWh, although this was the lowest price in Italy since April 8, 2024.
Hourly prices for the week showed that most markets experienced negative hourly prices. On Sunday, April 27, both the Portuguese and Spanish markets recorded their lowest-ever hourly prices. The Portuguese market saw a price of €5.00/MWh from 11:00 to 15:00, while the Spanish market had a price of €6.01/MWh from 15:00 to 16:00. In Belgium, the lowest hourly price of the week occurred from 13:00 to 14:00, at €266.00/MWh, which was the lowest price in Belgium since June 9, 2019. During the same time period, the German and Dutch markets saw their lowest prices since May 13, 2024, at €129.81/MWh and €189.90/MWh, respectively.
The increase in electricity prices during the week of April 21 was mainly driven by a decrease in wind energy production, which led to higher prices in most European markets. Additionally, electricity demand increased in the British and Spanish markets. Conversely, the Italian market saw lower prices due to a rise in solar energy production and a fall in demand.
AleaSoft Energy Forecasting’s price forecasts for the first week of May suggest that electricity prices will fall in most European markets, driven by a decrease in electricity demand and an increase in wind energy production. In Germany, solar energy production is also expected to rise significantly, AleaSoft reports.
