During the fourth week of November, electricity prices in most major European markets remained relatively stable compared to the previous week, with the highest daily values occurring at the beginning of the week. In many markets, the weekly average fell slightly, though exceptions were observed in Italy’s IPEX market (+6.4%) and the EPEX SPOT markets of the Netherlands (+6.8%) and Germany (+18%). The MIBEL market in Portugal and Spain saw minimal changes, with declines of only 0.05% and 0.2%, respectively, while the Nord Pool market of the Nordic countries experienced the largest drop at 38%. Other analyzed markets saw weekly price decreases ranging from 1.1% (Belgium EPEX SPOT) to 8.5% (France EPEX SPOT).
The weekly average prices during the week of November 24 remained above €95/MWh in most markets. Exceptions included the Nordic (€61.63/MWh), Spanish (€71.58/MWh), Portuguese (€72.22/MWh), and French (€79.77/MWh) markets. Italy recorded the highest weekly average at €126.63/MWh, while other markets ranged from €95.49/MWh in the UK N2EX market to €123.57/MWh in Germany.
On a daily basis, the Nordic market registered the week’s lowest average of €19.19/MWh on Saturday, November 29. Spain and Portugal also saw daily prices below €50/MWh during early sessions, whereas prices in most other markets remained above €65/MWh. Most markets had sessions exceeding €100/MWh, except for Spain, France, and Portugal. In Italy, daily prices remained above €110/MWh throughout the week, while Germany reached the highest daily average of €220.52/MWh on Tuesday, November 25, its peak since January 21. On November 26, Italy and the Netherlands recorded their highest daily prices since late February, at €147.32/MWh and €151.69/MWh, respectively. The UK market hit €124.29/MWh on November 25, matching levels last seen on March 13.
The increase in wind energy production in the Iberian Peninsula and France helped maintain weekly averages below €80/MWh in these markets. In France, falling demand also contributed to lower prices, a trend mirrored in Belgium and the UK. Conversely, rising demand in Germany and Italy pushed prices higher. In Germany, the simultaneous drop in solar and wind energy production contributed to the largest percentage price increase among analyzed markets.
Looking ahead, AleaSoft Energy Forecasting projects that during the first week of December, prices are expected to fall in most major European markets due to reduced demand in some regions. The increase in wind energy production in the Iberian Peninsula and rising solar energy production in Germany are likely to support price declines in Germany, Spain, and Portugal. Conversely, falling wind energy production in France and Italy may drive prices upward in those markets, AleaSoft reports.
