In the fourth week of July, average electricity prices declined in most major European markets compared to the previous week. Exceptions included the EPEX SPOT markets of the Netherlands and Germany, as well as the Nord Pool market covering the Nordic countries, which experienced price increases of 0.9%, 1.2%, and 20%, respectively. The MIBEL markets in Spain and Portugal saw the sharpest price reductions, each with a 30% drop. Meanwhile, the Belgian EPEX SPOT market recorded the smallest decrease, at 0.8%. Other markets tracked by AleaSoft Energy Forecasting showed price drops ranging from 2.2% in the UK’s N2EX market to 7.2% in the French EPEX SPOT market.
For the week of July 21, most European electricity markets had average prices above €55 per megawatt-hour. The exceptions were Spain and Portugal, with averages of €54.70/MWh and €54.73/MWh, and the Nordic market, which reported the lowest average at €39.59/MWh. Italy’s IPEX market registered the highest weekly average, at €109.81/MWh. In the other markets analyzed, weekly prices ranged from €56.50/MWh in France to €93.38/MWh in the United Kingdom.
In terms of daily averages, Monday, July 21, saw the lowest price recorded in France at €24.34/MWh, while the highest daily average of the week occurred in Italy on the same day, reaching €120.80/MWh. Throughout the week, daily prices in the Italian market remained consistently above €110/MWh.
Negative hourly prices were recorded in the Iberian electricity markets during the fourth week of July. On Sunday, July 27, between 16:00 and 17:00, Spain and Portugal experienced the lowest hourly price of the week, dropping to €0.60/MWh.
The overall decline in electricity prices during the week of July 21 was primarily driven by reduced demand and increased wind energy production in many of the analyzed markets. According to AleaSoft Energy Forecasting, these trends are expected to continue into the final week of July, contributing to further price declines across most major European electricity markets, AleaSoft reports.
