During the second week of November, average electricity prices fell in most major European markets compared to the previous week. The only exceptions were Italy’s IPEX market and the Nordic Nord Pool market, where prices rose by 3.8% and 6.1%, respectively. France’s EPEX SPOT market recorded the largest decrease, with prices dropping by 34%. In other markets tracked by AleaSoft Energy Forecasting, declines ranged from 1.8% in Germany’s EPEX SPOT market to 19% in Portugal’s MIBEL market.
Throughout the week of November 10, weekly averages remained below €85/MWh in most European electricity markets. The Dutch, German and Italian markets were exceptions, with averages of €85.74/MWh, €93.69/MWh and €115.19/MWh, respectively. France registered the lowest weekly average at €31.28/MWh. In the remaining markets monitored by AleaSoft, prices ranged from €43.32/MWh in the Iberian market to €81.54/MWh in the UK’s N2EX market.
Looking at daily movements, the Nordic market posted the lowest daily average of the week at €15.32/MWh on November 12. However, on November 10, it reached €79.85/MWh, its highest level since September 10. Prices climbed further on November 17 to €83.06/MWh, although still below the daily peak recorded on September 9.
In Italy, daily prices remained above €110/MWh throughout the second week of November. In Germany, prices exceeded €100/MWh on November 10, 14 and 16, but stayed below €110/MWh. The highest daily average of the week was recorded in Italy on November 13, at €124.41/MWh.
The overall decline in prices across most European markets during the week of November 10 was driven by higher wind energy output and lower gas prices. In France and Belgium, reduced electricity demand also contributed. Conversely, in Italy, rising demand and falling wind generation pushed prices higher.
According to AleaSoft Energy Forecasting, prices are expected to rise again in most European markets during the third week of November as demand increases and wind energy production declines in some areas. However, Italy is expected to see lower prices due to a rebound in wind generation, AleaSoft reports.
