In the third week of November, average electricity prices rose across all major European power markets compared to the previous week. Italy’s IPEX market posted the smallest increase at 3.3%, while the Nordic Nord Pool market and France’s EPEX SPOT market recorded the most dramatic jumps, with prices surging by 113% and 179%, respectively. In the remaining markets tracked by AleaSoft Energy Forecasting, price increases ranged from 12% in Germany’s EPEX SPOT market to 67% in Portugal’s MIBEL market.
During the week of November 17, weekly averages exceeded €95/MWh in most European markets. The only exceptions were Spain, Portugal and France, which settled at €71.73/MWh, €72.25/MWh and €87.17/MWh, respectively. Italy once again marked the highest regional average, reaching €119.00/MWh. Elsewhere, weekly prices ranged from €99.19/MWh in the United Kingdom’s N2EX market to €104.91/MWh in Germany.
Daily pricing trends reflected similar dynamics. The Iberian MIBEL market registered the lowest daily average among all markets analyzed—€39.88/MWh on Sunday, November 23. In contrast, all other regions maintained daily averages above €60/MWh, with Italy consistently surpassing €105/MWh throughout the week. Several markets also saw daily averages climb above €100/MWh on certain days.
Friday, November 21, proved particularly notable. Germany hit a weekly high of €146.48/MWh, while the Nordic market reached €140.44/MWh—its highest daily price since February 15. France and Belgium recorded their most expensive day since July 2, at €112.72/MWh and €133.62/MWh, respectively. In Italy, prices rose to €134.10/MWh, the highest level since June 24.
Several factors contributed to the broad price increases across Europe. Stronger electricity demand throughout the region, rising gas prices and lower wind-energy production in Spain, France and Portugal all exerted upward pressure. In Italy, reduced solar output further amplified price gains.
Looking ahead, AleaSoft Energy Forecasting expects prices to continue rising in most European markets during the final week of November. Falling wind generation in France and Germany, combined with increased demand in several countries, is likely to sustain upward momentum. However, stronger wind production on the Iberian Peninsula could help ease prices in the MIBEL market, AleaSoft reports.
