During the week of November 27, daily prices in most of the main European electricity markets increased progressively. The highest prices corresponded to Thursday, November 30. In the case of the Iberian market, although daily prices followed a downward trend since the beginning of the week, on average they were higher than those of the previous week. As a result, the weekly averages of all electricity markets analyzed at AleaSoft Energy Forecasting were higher than those of the previous week. The EPEX SPOT market of Germany registered the largest price rise, 37%, while the IPEX market of Italy had the smallest increase, 1.8%. In the rest of the analyzed markets, prices increased between 26% in the N2EX market of the United Kingdom and 35% in the MIBEL market of Spain and Portugal.
In the last week of November, weekly averages were above €130/MWh in most of the analyzed European electricity markets. The exceptions were the MIBEL market of Portugal and Spain and the Nord Pool market of the Nordic countries, where prices were €93.94/MWh, €94.04/MWh and €102.27/MWh, respectively. On the other hand, the British market registered the highest average, €139.03/MWh. In the rest of the analyzed markets, prices ranged from €131.82/MWh in the German market to €134.04/MWh in the Italian market.
On the other hand, on Thursday, November 30, from 17:00 to 18:00, the German, Belgian, French and Dutch markets registered hourly prices above €260/MWh. The highest prices were those of Germany and the Netherlands, €261.00/MWh in both cases. The French market price, €260.95/MWh, was the highest since the end of August in that market. In the case of the Nordic market, on Monday, December 4, from 8:00 to 9:00, it registered a price of €199.93/MWh, the highest since December 2022.
During the week of November 27, the general increase in electricity demand and the fall in solar energy production had an upward influence on European market prices. In addition, wind energy production fell in some markets, such as Germany and France.
AleaSoft Energy Forecasting’s price forecasts indicate that in the first week of December, prices in the European electricity markets might decrease. The increase in wind energy production in most of the analyzed markets will contribute to this behaviour.
