During the second week of October, wholesale electricity prices on European electricity markets rose compared to the previous week. The largest percentage price rise, 70%, was reached in the Nord Pool market, while the smallest increase, 1.7%, was registered in the Netherlands. In other markets, prices increased between 5% in the EPEX SPOT market of Germany and 20% in the IPEX market of Italy, acording to AleaSoft Forecasting.
Weekly average prices were below 95 euros/MWh in most European electricity markets. The exceptions were the Spanish, Italian and Portuguese markets. The Italian market reached the highest average, 145.3 euros/MWh. The lowest average price, 9.25 euros/MWh, was reached in the Nordic market. In the rest of the analyzed markets, prices ranged from 77.92 euros/MWh in the German market to 90.55 euors/MWh in the N2EX market of the United Kingdom.
In the second week of October, negative hourly prices were registered in the German, Belgian, British, Dutch and Nordic markets, influenced by high wind energy production values. The lowest hourly price, ‑7.1 euros/MWh, was reached in the Dutch market on October 15, from 14:00 to 15:00.
In the second week of October, hourly prices above 200 euros/MWh were also registered in most of the European markets. This was also the case on October 16 in all analyzed markets, except for the Portuguese and Nordic markets. On that day, the highest hourly prices were registered from 19:00 to 20:00 CET. In the German, Belgian, French, Italian and Dutch markets, a price of €240.00/MWh was reached. In the case of the French and Italian markets, this price was the highest since August 24. In the Spanish market, an hourly price of 220.00 euros/MWh was reached on October 16 from 19:00 to 20:00 CET, which was the highest price since the end of January. On the same day and hour, the British market also reached the highest hourly price since January, at 241.19 £/MWh.
During the second week of October, the rise in the price of gas and CO2 emission rights, the increase in demand in most markets and the general decline in solar energy production led to higher prices in the European electricity markets.
In the third week of October, prices in most of the main European electricity markets are expected to rise further, influenced by declining solar energy production and increasing demand in most markets.
