Late-May price pattern across major European markets
In the fourth week of May, most major European electricity markets saw an early phase of price increases followed by a gradual easing toward the end of the week. In several cases, prices rose in early sessions but retreated later, leading to lower weekly averages across most markets. Italy, Spain, Portugal and France were the main exceptions to the broader easing trend.
Italy, Spain, Portugal and France recorded weekly price gains of 6.2%, 25%, 25% and 27%, respectively. The Nordic market saw the steepest decline, with prices down by 36%. In the remaining analyzed markets, weekly changes ranged from a 1.1% fall in Great Britain to a 10% drop in Germany.
Weekly average levels and daily extremes
Weekly average prices stayed below €95/MWh in most European markets during the period. The United Kingdom and Italy posted higher averages of €121.97/MWh and €123.58/MWh, while the Nordic region recorded the lowest level at €48.37/MWh. Elsewhere, prices generally ranged from €60.70/MWh in Spain and Portugal up to €94.90/MWh in Germany.
Several markets logged at least one session below €35/MWh, including Spain, France, the Nordics and Portugal. The lowest daily average was recorded in the Nordic market on May 27, when prices fell to €21.97/MWh. By contrast, British and Italian markets remained above €100/MWh throughout the week.
The highest daily average occurred in Italy on May 27, reaching €134.53/MWh. Additional high-price episodes were also recorded in Germany, Belgium and the Netherlands on May 28 and May 29. These daily outcomes contributed to wide variation across the week’s trading range.
Drivers behind weekly moves and June outlook
A mix of factors shaped price movements during the week. Lower gas prices and stronger solar generation pushed prices down across many markets. In some regions, weaker demand alongside higher wind output—particularly in Germany—also supported downward pressure.
The same period included upward pressure in other areas due to contrasting renewable and demand conditions. Reduced wind generation in France, Italy and the Iberian Peninsula combined with higher electricity demand contributed to higher prices there. These shifts aligned with diverging gas, wind and solar dynamics across regions.
