In the third week of February, average electricity prices in the main European markets decreased compared to the previous week. The IPEX market in Italy experienced the smallest decline, down 6.9%, while the Nord Pool market in the Nordic countries saw the largest drop, with prices falling by 39%. Other markets analyzed by AleaSoft Energy Forecasting experienced price reductions ranging from 25% in the MIBEL market (Spain and Portugal) to 30% in the EPEX SPOT market of Belgium.
During the week of February 17, weekly average prices were below €110/MWh in most major European electricity markets, with Italy being the exception. The Italian market reached the highest weekly average at €148.38/MWh, while the Nordic market had the lowest average at €53.80/MWh. Other markets saw prices ranging from €87.67/MWh in the Iberian market to €106.32/MWh in the Dutch market.
Due to these price decreases, the last four sessions of the third week saw most analyzed electricity markets with prices below €100/MWh. On February 22, the Nordic market recorded the lowest price of the week at €15.07/MWh.
The drop in gas and CO2 emission allowance prices, along with a rise in solar energy production, contributed to the lower electricity prices across Europe. Additionally, wind energy production increased in most markets, and demand decreased in many regions.
AleaSoft Energy Forecasting’s price projections indicate that in the fourth week of February, prices will likely continue to fall in most European electricity markets. This trend will be driven by a decrease in demand in most markets, alongside higher wind energy production in Spain and Italy, AleaSoft reports.
