During the week of December 11, prices in the major European electricity markets decreased compared to the previous week. The exceptions were the MIBEL market in Portugal and Spain with increases of 4.7% and 4.5% respectively. On the other hand, the Nord Pool market in the Nordic countries registered the largest price decrease with 24%, while the IPEX market in Italy registered the smallest decrease with 11%. In the rest of the markets analyzed by AleaSoft Energy Forecasting, prices fell between 14% in the EPEX SPOT market in the Netherlands and 18% in the N2EX market in the UK.
During the second week of December, most of the European electricity markets analyzed had weekly averages below €90/MWh. The exception was the Italian market with an average of €110.14/MWh. In contrast, the Spanish and Portuguese markets registered the lowest weekly averages of €71.30/MWh and €71.32/MWh, respectively. In the other markets analyzed, prices ranged from €80.85/MWh in the market of the Nordic countries to €86.95/MWh in the British market.
On the other hand, the Nordic market registered the highest hourly price of the second week of December, €162.04/MWh, on December 12, from 15:00 to 16:00. Throughout the week, prices on this market gradually decreased until reaching the lowest hourly price of €0.07/MWh on December 17, from 4:00 to 5:00.
During the week of December 11, the decrease in the average price of gas and CO2 emission rights and the decrease in electricity demand in most markets led to lower prices in most European electricity markets. Increased solar energy production in countries such as Germany and France also had a downward impact on prices.
AleaSoft Energy Forecasting‘s price forecasts indicate that prices could continue to fall in most major European electricity markets for the week of December 18. Increased solar energy production in markets such as Italian and the German, along with increased wind energy production in Germany and France, could contribute to this behaviour.
