June 20, 2024
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HomeUncategorizedEurope: Weekly electricity prices ranged between 27 and 108 euros/MWh

Europe: Weekly electricity prices ranged between 27 and 108 euros/MWh

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According to AleaSoft Energy Forecasting, in first week of June, prices in most major European electricity markets increased compared to the previous week. The exceptions were the Nord Pool market of the Nordic countries and the N2EX market of the United Kingdom, with decreases of 1.2% and 16%, respectively.

In contrast, the MIBEL market of Spain and Portugal reached the largest percentage price rises, 261% and 269%, respectively. The EPEX SPOT market of France followed them, with an increase of 128%. In the other markets analyzed at AleaSoft Energy Forecasting, prices rose between 4.3% in the EPEX SPOT market of the Netherlands and 16% in the EPEX SPOT market of Belgium.

In the first week of June, weekly averages exceeded €65/MWh in most analyzed European electricity markets. The exceptions were the Nordic and French markets, with averages of €27.26/MWh and €36.86/MWh, respectively. In contrast, the IPEX market of Italy registered the highest weekly average, €107.73/MWh. In the rest of the analyzed markets, prices ranged from €65.90/MWh in the Belgian market to €78.40/MWh in the German market.

Regarding hourly prices, despite the increases in weekly average prices, most analyzed European markets registered negative prices on Sunday, June 9, a day with lower demand and higher wind energy production in some cases. The exception was the Italian market, which continued without negative prices in the first week of June.

The German, Belgian, British, Dutch and Nordic markets also reached negative prices on Saturday, June 8. In the case of the French market, in addition to the weekend, there were negative prices on June 4 and 5. The Belgian market registered the lowest hourly price of the first week of June, €58.97/MWh, on Sunday, June 9, from 13:00 to 14:00.

On the other hand, on June 3 and 4, from 20:00 to 21:00, the German market reached prices above €200/MWh. On Tuesday, June 4, the price in that hour, €235.52/MWh, was the highest since the end of November 2023 in this market.

During the week of June 3, the general decline in wind energy production had an upward influence on European electricity market prices. In addition, demand increased in some markets such as Germany, Spain and Portugal. The fall in solar energy production in the Iberian Peninsulaalso contributed to the rise in prices in the MIBEL market. 

AleaSoft Energy Forecasting’s price forecasts indicate that prices of most analyzed European electricity markets might decrease in the second week of June, influenced by the increase in wind energy production in most markets and the decrease in demand in some cases, AleaSoft Energy Forecasting reports.

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