In mid-April, electricity prices across major European markets experienced significant volatility, peaking early in the week before a gradual decline. Despite this decrease, the average weekly prices showed an overall increase compared to the preceding week. The Italian market noted a modest rise of 2.7%, while the French market exhibited a dramatic surge of 109%. Other markets analyzed demonstrated price growth ranging from 21% in Great Britain to 67% in the Nordic region.
During the week of April 13, most European markets reported weekly averages exceeding €95/MWh. Notably, Spain and Portugal maintained averages below this threshold at €50.38/MWh and €50.73/MWh, respectively, while France’s average stood at €70.93/MWh. Italy recorded the highest weekly average at €123.19/MWh, with other markets varying between €97.42/MWh in the Nordic region and €109.09/MWh in Germany.
Daily price movements reflected further disparities; Spain marked the lowest price of the week at €23.80/MWh on April 13, closely followed by Portugal at €23.88/MWh on the same day. Conversely, Italy saw its lowest daily price since late February on April 18, registering at €89.39/MWh.
Throughout the week, many European markets encountered daily prices exceeding €100/MWh on various trading days, particularly at the week’s outset. On April 14, Italy reached its peak daily average for the week at €150.62/MWh, while the Nordic market hit €111.14/MWh—its highest since late February.
The upward pressure on electricity prices during this period was attributed to several factors: increasing CO₂ allowance prices, diminished wind generation capacity, and heightened electricity demand across numerous markets. Additionally, lower solar output from Germany and Italy exacerbated these price elevations.
Looking forward to late April, analysts from AleaSoft Energy Forecasting anticipate a potential correction in prices due to expected decreases in demand alongside improved wind and solar generation conditions across most regions. Nevertheless, fluctuations in natural gas prices are projected to significantly influence short-term pricing dynamics within European electricity markets.
