In the second week of September, average electricity prices rose in most major European markets compared to the previous week. The exceptions were the United Kingdom’s N2EX market and France’s EPEX SPOT market, which fell by 3.8% and 8.5%, respectively. Italy’s IPEX market and the Nordic countries’ Nord Pool market recorded the smallest increases, both at 4.4%, while Portugal and Spain’s MIBEL market saw the largest percentage rises, 35% and 36%, respectively. Other markets analyzed by AleaSoft Energy Forecasting registered price increases ranging from 9.5% in Germany’s EPEX SPOT market to 19% in the Netherlands’ EPEX SPOT market.
During the week of September 8, weekly average prices remained below €75/MWh in most European markets despite the increases. Exceptions included the Netherlands (€85.92/MWh), Germany (€92.99/MWh), and Italy (€111.16/MWh). France had the lowest weekly average at €26.36/MWh, while other markets ranged from €45.55/MWh in the Nordic market to €71.64/MWh in the UK.
Regarding daily prices, France recorded the lowest average on Saturday, September 13, at €9.69/MWh. At the start of the third week, on Monday, September 15, most European markets had daily prices below €15/MWh, with France again the lowest at €3.38/MWh—the lowest since June 9. Belgium, the UK, and the Netherlands reached their lowest prices since May, while Germany saw its lowest daily price since January 2.
However, several markets also recorded high daily prices in the second week of September. Germany, Belgium, the UK, Italy, and the Netherlands registered daily prices above €100/MWh. On September 9, Germany reached the week’s highest daily average at €142.45/MWh, its highest since February 18. Additionally, on September 8, Germany’s hourly price between 19:00 and 20:00 hit €413.66/MWh, the highest since July 1.
The increase in electricity prices during the week of September 8 was driven by rising gas and CO2 emission allowance prices, lower solar production, and higher electricity demand in most markets. Reduced wind generation in the Iberian Peninsula also contributed to price increases in the MIBEL market.
For the third week of September, AleaSoft Energy Forecasting expects electricity prices to fall in most European markets, supported by higher solar output, lower demand in some areas, and a significant increase in wind generation in Germany, AleaSoft reports.
