During the second week of August, average electricity prices rose across most major European markets compared to the previous week. Italy’s IPEX market and the MIBEL market for Portugal and Spain recorded the smallest increases at 4.9%, 20%, and 22%, respectively. In contrast, the Nord Pool market in the Nordic countries saw the largest percentage jump, 293%. Other markets analyzed by AleaSoft Energy Forecasting experienced price increases ranging from 37% in Germany’s EPEX SPOT market to 62% in France’s EPEX SPOT market.
Weekly average prices for the week of August 11 exceeded €75/MWh in most markets. Exceptions included the Nordic and French markets, which averaged €28.00/MWh and €66.34/MWh, respectively. Italy posted the highest weekly average at €113.27/MWh. Other markets ranged from €77.06/MWh in Belgium to €96.18/MWh in the UK’s N2EX market.
Looking at daily prices, on Saturday, August 16, the Nordic market reached the week’s lowest average at €4.55/MWh, while on August 13, it hit its highest price since May 10, €63.56/MWh. Italy’s daily prices remained above €100/MWh throughout the week. On August 13, prices in the UK, Spain, and Portugal also exceeded €100/MWh, while Germany, the UK, and the Netherlands saw daily prices above €100/MWh on August 14. Italy recorded the highest daily average of the week at €118.47/MWh on August 13.
Hourly prices peaked on August 13 and 14 in Germany, Belgium, and the Netherlands, exceeding €200/MWh. Germany reached the week’s highest hourly price at €283.89/MWh on August 14 between 20:00 and 21:00. The Nordic market hit €96.93/MWh during the same hour on August 13, its highest since May 10.
Price increases during the week were driven by higher electricity demand and lower wind energy production in most markets. Solar production fell in Spain, Italy, and Portugal, while nuclear output declined in France. However, lower demand in Italy and Portugal limited their percentage price increases.
AleaSoft Energy Forecasting projects that in the third week of August, electricity prices will decrease in most European markets due to higher wind generation, with demand expected to decline in some regions, AleaSoft reports.
