In the last week of October, average electricity prices rose across all major European markets compared to the previous week. The smallest increases were recorded in the United Kingdom’s N2EX market and Italy’s IPEX market, where prices rose by 0.7% and 0.9%, respectively. The largest percentage increases occurred in the Nordic region’s Nord Pool market and in the MIBEL markets of Portugal and Spain, with prices jumping by 44%, 46%, and 48%. In other European markets analyzed by AleaSoft Energy Forecasting, prices rose between 23% in the Netherlands’ EPEX SPOT market and 32% in France’s EPEX SPOT market.
During the week of October 27, average weekly prices exceeded €60/MWh in most European markets, except in France and the Nordic countries, where they averaged €45.00/MWh and €50.20/MWh, respectively. Italy registered the highest weekly average at €111.57/MWh. In the remaining markets, prices ranged from €64.38/MWh in Belgium to €75.47/MWh in Portugal.
Among daily averages, France recorded the lowest price of the week at €22.31/MWh on October 31, while Italy’s market saw the highest daily average, €124.53/MWh, on the same day. Throughout the week, Italian prices remained above €100/MWh, while Spain and Portugal also surpassed that level on October 28 and 29. In the Nordic market, prices reached €75.43/MWh on October 29 — the highest since September 10.
The price increases in late October were primarily driven by reduced wind and solar energy production in most markets, alongside higher electricity demand in France.
According to AleaSoft Energy Forecasting, prices are expected to decline in most major European markets during the first week of November, supported by lower demand and increased renewable generation. However, prices are forecast to rise in Germany, the United Kingdom, and the Netherlands, driven by higher demand — and in Germany’s case, by a further drop in wind power generation, AleaSoft reports.
