In the fourth week of October, electricity prices on the EPEX SPOT markets in Central Europe and the N2EX market in the UK remained around €120/MWh until Friday 27. Over the weekend, prices fell to an average of €70/MWh on Saturday and €27/MWh on Sunday.
Compared to the previous week, the weekly average on these markets increased by 8%.
Prices on the MIBEL market in Spain and Portugal, the IPEX market in Italy and the Nord Pool market in the Nordic countries varied. The Italian market registered the highest prices among the analyzed markets, with an average price of €131.09/MWh.
The Iberian market registered the lowest prices, with a weekly average of €56.38/MWh in Spain and €56.35/MWh in Portugal. Between October 26 and 30, MIBEL reached the lowest prices of all markets, supported by high wind energy production. The daily average price reached a low of €6.45/MWh on Friday 28. This is the lowest price since January. There were three hours with zero price on Friday and four on Saturday.
Prices on the Nordic market continued the upward trend of the previous week and reached a weekly average of €60.36/MWh, which is 171% increase compared to the previous week. This was the week with the highest prices since mid-June.
Most markets, except the Italian and Nordic markets, registered zero or negative hourly prices over the weekend. The UK market registered the lowest prices on Saturday 28, with £-3.90/MWh between 4:00 and 7:00. The highest hourly price of the week was €215.02/MWh, registered on the Iberian market between 20:00 and 21:00 on Monday 23. This is the highest hourly price in the last ten months, except the €220.00/MWh registered on Monday of the previous week.
AleaSoft Energy Forecasting‘s price forecasts indicate that in the first week of November, prices will fall in most of the European electricity markets analyzed, influenced by the November 1 holiday and the consequent drop in demand.
