In the first week of August, average electricity prices fell in most major European markets compared to the previous week. The exceptions were Italy’s IPEX market and Spain and Portugal’s MIBEL market, which rose by 3.5%, 57%, and 59%, respectively. The largest percentage drop was recorded in the Nordic Nord Pool market, down 76%. Other markets analyzed by AleaSoft Energy Forecasting saw declines ranging from 15% in France’s EPEX SPOT market to 32% in the United Kingdom’s N2EX market.
During the week of August 4, weekly average prices remained below €70/MWh in most European markets. Italy was the exception, averaging €107.94/MWh, while the Nordic market had the lowest weekly average at €7.12/MWh. Other markets ranged from €40.99/MWh in France to €68.88/MWh in Portugal.
Daily prices showed that Tuesday, August 5, saw the lowest averages in most markets, staying below €40/MWh due to high wind energy production. The Nordic market recorded the week’s lowest daily average at €0.92/MWh. Italy’s daily prices remained above €100/MWh throughout the first week, reaching the highest daily average of €113.20/MWh on Thursday, August 7.
Hourly prices were negative in most European markets, except for Italy. The lowest hourly prices occurred on Sunday, August 10. On that day, Germany, Belgium, and the Netherlands recorded hourly prices below €60/MWh. Between 12:00 and 13:00, Belgium reached its lowest hourly price of the week at €69.63/MWh, the lowest since May 12. Between 13:00 and 14:00, the Netherlands also hit its lowest price since May 12, at €64.79/MWh, AleaSoft reports.
