In the fourth week of March, average electricity prices decreased in most major European markets compared to the previous week. However, prices increased in the EPEX SPOT markets of Germany, Belgium, France, and the Netherlands, with increases ranging from 9.2% in the Dutch market to 25% in the French market. On the other hand, the largest price declines were seen in the MIBEL market of Spain and the Nord Pool market of the Nordic countries, which dropped by 15% and 16%, respectively. In other analyzed markets, prices fell between 3.2% in the IPEX market of Italy and 13% in the N2EX market of the United Kingdom.
During the week of March 24, weekly average prices were below €95/MWh in most European markets, with the exception of Italy, where the average price was €119.27/MWh. The Nordic, Spanish, and Portuguese markets recorded the lowest weekly averages at €24.96/MWh, €30.10/MWh, and €30.35/MWh, respectively. Prices in other markets ranged from €71.17/MWh in France to €93.50/MWh in the UK.
In terms of daily prices, most markets saw their lowest prices of the week on Sunday, March 30. On this day, the Spanish and Portuguese markets reached their lowest prices since early June 2024, with prices of €3.03/MWh and €3.44/MWh, respectively. The Dutch market also registered its lowest price since July 7, 2024, at €9.46/MWh. Meanwhile, the Belgian and French markets recorded their lowest prices since November 2024, and the British and German markets reached their lowest prices since December 2024 and January 2025, respectively.
Regarding hourly prices, negative hourly prices were observed on Sunday, March 30, in the Belgian, British, and French markets. Negative prices were also recorded on March 28 in the German and Dutch markets. The Portuguese market saw negative hourly prices on March 29 and 30, while Spain experienced negative hourly prices on March 26, 27, 28, 29, and 30. Notably, the Iberian markets reached their lowest hourly prices in history on March 30. In Spain, the historical minimum of €5.21/MWh occurred between 14:00 and 15:00, while in Portugal, the minimum price of €4.00/MWh was registered between 11:00 and 12:00.
The decline in weekly gas and CO2 emission allowance prices, along with a decrease in electricity demand, contributed to lower prices across most European electricity markets during the week of March 24. Additionally, the increase in solar photovoltaic energy production in the Iberian Peninsula helped lower prices. However, reduced wind energy production and lower solar energy output in France and Germany contributed to higher prices in those markets.
According to AleaSoft Energy Forecasting’s price forecasts, the trend will reverse in most European markets during the first week of April. Prices in markets such as France and Germany are expected to fall, driven by increased wind energy production. Meanwhile, in the Iberian Peninsula, prices are projected to rise due to a decline in both wind and solar energy production, AleaSoft reports.
