According to AleaSoft Energy Forecasting, in the fourth week of June, prices in most major European electricity markets decreased compared to the previous week. The exceptions were the MIBEL market of Spain and Portugal and the EPEX SPOT market of Germany, with increases of 19%, 22% and 64%, respectively. The EPEX SPOT market of France registered the largest percentage price drop, 29%. In the rest of the markets analyzed at AleaSoft Energy Forecasting, prices fell between 7.2% in the IPEX market of Italy and 20% in the Nord Pool market of the Nordic countries.
In the fourth week of June, weekly averages were below €75/MWh in most analyzed European electricity markets. The exceptions were the N2EX market of the United Kingdom, as well as the Italian and German markets, with averages of €83.98/MWh, €101.90/MWh and €132.70/MWh, respectively. The Nordic and French markets registered the lowest weekly averages, €27.08/MWh and €36.33/MWh, respectively. In the rest of the analyzed markets, prices ranged from €60.41/MWh in the Belgian market to €72.60/MWh in the Portuguese market.
On the other hand, on June 25, the single European market decoupled and operations involving international electricity exchanges were not possible, which affected European market prices on June 26. In the case of the German market, on June 26, from 6:00 to 7:00, the price was €2325.83/MWh. This price is the highest in the history of the German market.
During the week of June 24, the decline in weekly gas and CO2 emission allowance prices exerted a downward influence on European electricity market prices. However, the fall in wind and solar energy production in the Iberian Peninsula contributed to the increase in MIBEL marketprices. In the case of the German market, the high prices registered on Wednesday, June 26, led to an increase in the weekly average.
AleaSoft Energy Forecasting’s price forecasts indicate that, in the first week of July, prices will rise again in most analyzed markets. However, in the German, Spanish and Portuguese markets, prices might fall, influenced by higher levels of wind energy production and, in the case of Spain, also of solar energy production.
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