April 22, 2024
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Europe: Weekly electricity prices ranged between 53 and 89 euros/MWh

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During the week of February 12, average prices of most major European electricity markets continued stable, reversing their trend again compared to the previous week. However, the EPEX SPOT market in Germany maintained its upward trend, with an increase of 4.0%. The EPEX SPOT market of Belgium and the IPEX market of Italy did not change their downward trend either, which registered decreases of 0.2% and 2.1%, respectively.

Among the markets whose performance changed compared to the previous week, the MIBEL market of Spain and Portugal and the French market rose by 9.2% and 11%, respectively. In the rest of the markets analyzed at AleaSoft Energy Forecasting, prices fell between 1.0% in the EPEX SPOT market of the Netherlands and 18% in the Nord Pool market of the Nordic countries.

In the third week of February, weekly averages continued below €70/MWh in most analyzed European electricity markets. The exceptions were the IPEX market of Italy, with an average of €88.75/MWh, and the N2EX market of the United Kingdom, with a price of €72.67/MWh. In contrast, the Portuguese and Spanish markets registered the lowest weekly prices for the second week in a row, €52.51/MWh and €52.76/MWh, respectively. In the rest of the analyzed markets, prices ranged from €56.23/MWh in the Nordic market to €67.75/MWh in the Dutch market.

During the week of February 12, the fall in the average price of gas and CO2 emission rights, the drop in demand and the increase in solar energy production led to lower prices in most analyzed European electricity markets. However, the fall in wind energy production contributed to higher prices in the German, French and Iberian markets.

AleaSoft Energy Forecasting’s price forecasts indicate that in the fourth week of February European electricity market prices might fall. Increased wind energy production will lead to this behaviour. Increased solar energy production will also contribute to lower prices in markets such as Germany and Spain.

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