June 21, 2024
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HomeUncategorizedEurope: Weekly electricity prices ranged between 4 and 75 euros/MWh

Europe: Weekly electricity prices ranged between 4 and 75 euros/MWh

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According to AleaSoft Energy Forecasting, in the first week of April, prices in the main European electricity markets fell compared to the previous week. The EPEX SPOT market of Belgium and France registered the largest percentage drops, 51% and 75%, respectively. In the rest of the markets analyzed at AleaSoft Energy Forecasting, prices fell between 16% in the MIBEL market of Spain and 34% in the N2EX market of the United Kingdom.

In the week beginning on April 1, weekly averages were below €50/MWh in most analyzed European electricity markets. The exceptions were the British market and the IPEX market of Italy, with averages of €50.63/MWh and €75.78/MWh, respectively. In contrast, the Portuguese and Spanish markets registered the lowest weekly averages, for the ninth consecutive week, €3.87/MWh and €4.41/MWh respectively.

The French market followed them closely with a weekly average of €9.88/MWh. In the rest of the analyzed markets, prices ranged from €26.35/MWh in the Belgian market to €45.46/MWh in the German market.

Regarding hourly prices, in the first week of April, all analyzed markets registered negative prices, except for the Italian market. The Dutch market reached the lowest hourly price, ‑€125.30/MWh, on Saturday, April 6, from 14:00 to 15:00. The Spanish and Portuguese markets registered negative prices for the first time in their history on April 1 and 5, respectively, something that repeated during some hours on April 6, 7 and 8.

On Sunday, April 7, the Nord Pool market of the Nordic countries registered negative hourly prices for the first time since October 2023. In the Italian market, there were no negative prices, but the price of €0.10/MWh on April 7, from 13:00 to 14:00, was the lowest in this market since April 2020.

In the case of daily prices, the French market reached a negative price of ‑€0.71/MWh on Saturday, April 6. This price was the lowest since early July 2023 and the only negative price since then in this market.

During the week of April 1, the decrease in average price of gas and CO2 emission rights, as well as the decrease in electricity demand and the increase in solar energy production in almost all analyzed markets, exerted their downward influence on European electricity market prices. In addition, wind energy production increased in markets such as Germany and France, AleaSoft Energy Forecasting reports.

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