In the first week of December, average electricity prices fell in most major European markets compared to the previous week. The exception was the Nord Pool market of the Nordic countries, which saw a 20% increase. The Italian IPEX market registered the smallest decline at 0.4%, while France’s EPEX SPOT market experienced the largest drop, 19%. Other markets analyzed by AleaSoft Energy Forecasting saw decreases between 7.7% in Belgium and 12% in the Netherlands.
Weekly averages for the week of December 1 remained below €95/MWh in most European markets. Exceptions included Germany and Italy, with averages of €110.97/MWh and €126.15/MWh, respectively. The MIBEL markets of Spain and Portugal, along with France, had the lowest weekly averages at €64.51/MWh, €64.51/MWh, and €64.65/MWh. Other markets ranged between €73.79/MWh in the Nordics and €94.62/MWh in the Netherlands.
On a daily basis, France registered the lowest average of the week, €20.18/MWh, on Sunday, December 7. Spain and Portugal also saw weekend prices below €35/MWh. Conversely, most markets recorded daily prices above €100/MWh during some sessions, except Spain, France, Portugal, and the UK N2EX market. Italy maintained daily prices above €100/MWh throughout the week. The highest daily average was in Germany, reaching €164.81/MWh on December 3.
The drop in weekly gas prices contributed to lower electricity prices across Europe. Increased wind energy production in the Iberian Peninsula and France helped Spain, France, and Portugal register the lowest weekly averages. Additionally, lower demand in France and higher solar production in Germany influenced market trends.
For the second week of December, AleaSoft Energy Forecasting predicts that prices will likely continue falling in most major European markets, driven by lower demand and significantly higher wind energy production in Germany. In contrast, prices in Spain and Portugal are expected to rise, due to declining wind production in the Iberian Peninsula, AleaSoft reports.
