June 23, 2024
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HomeUncategorizedEurope: Weekly electricity prices ranged between 18 and 83 euros/MWh

Europe: Weekly electricity prices ranged between 18 and 83 euros/MWh

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According to AleaSoft Energy Forecasting, in the first week of May, prices in the main European electricity markets fell compared to the previous week. The exception was the MIBEL market of Spain and Portugal, with rises of 11% and 13%, respectively. The EPEX SPOT market of France and the Nord Pool market of the Nordic countries reached the largest percentage price declines, 44% and 49%, respectively. In contrast, the N2EX market of the United Kingdom registered the smallest percentage decline, 6.8%. In the rest of the markets analyzed at AleaSoft Energy Forecasting, prices fell between 17% in the EPEX SPOT market of the Netherlands and 27% in the EPEX SPOT market of Germany and Belgium.

In the first week of May, weekly averages were below €65/MWh in most analyzed European electricity markets. The exceptions were the British market and the IPEX market of Italy, with averages of €80.48/MWh and €82.83/MWh, respectively. The Spanish and Portuguese markets registered the lowest weekly averages, €28.33/MWh and €28.34/MWh, respectively, for the thirteenth consecutive week. In the rest of the analyzed markets, prices ranged from €33.84/MWh in the French market to €61.53/MWh in the Dutch market.

Regarding hourly prices, most analyzed European markets registered negative prices on May 1 and 5. The exceptions were the British, Italian and Nordic markets. The German, Belgian and Dutch markets also registered negative prices on May 2. The Dutch market reached the lowest hourly price, ‑€200.00/MWh, on Wednesday, May 1, from 13:00 to 15:00. This price was the lowest in this market since the beginning of July 2023.

During the week of April 29, the fall in demand, a slight decrease in the average gas price and the increase in wind energy production in most analyzed markets had a downward influence on European electricity market prices. In the case of the German and Italian markets, moreover, solar energy production increased, AleaSoft Energy Forecasting reports.

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