According to AleaSoft Energy Forecasting, in the third week of July, prices in the main European electricity markets rose compared to the previous week. However, the weekend price declines meant that the weekly average price increases did not exceed 10% compared to the previous week. The exception was the Nord Pool market of the Nordic countries, with an 11% decrease. The IPEX market of Italy registered the smallest increase, 2.2%. In contrast, the EPEX SPOT market of France registered the largest percentage price rise, 10%. In the other markets analyzed at AleaSoft Energy Forecasting, prices rose between 3.6% in the EPEX SPOT market of Germany and 8.0% in the MIBEL market of Spain.
In the third week of July, weekly averages were below €75/MWh in most analyzed European electricity markets. The N2EX market of the United Kingdom and the Italian market were the exceptions, with averages of €88.55/MWh and €115.27/MWh, respectively. The Nordic market registered the lowest weekly average, €24.63/MWh. In the rest of the analyzed markets, prices ranged from €57.62/MWh in the French market to €73.82/MWh in the Portuguese market.
Regarding hourly prices, most analyzed European markets registered negative prices on July 20 and 21. The exceptions were the British, Italian and Nordic markets. The German, Belgian and Dutch markets also registered negative prices on July 15 and 16. On Tuesday, July 16, from 14:00 to 15:00, the German market registered the lowest hourly price of the third week of July, €11.48/MWh.
During the week of July 15, the slight increase in the weekly average gas price and the fall in wind energy production in most analyzed markets led to higher prices in European electricity markets. Solar energy production also fell in the Spanish and Italian markets. In the case of Spain, France and Italy, moreover, electricity demand increased.
AleaSoft Energy Forecasting’s price forecasts indicate that, in the fourth week of July, prices will be similar to those of the previous week. In some markets, they will decline, while in others the increases will be smaller than in the third week of July. The recovery of wind and solar energy production in most analyzed electricity markets will contribute to this behavior.
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