According to AleaSoft Energy Forecasting, in the first week of July, prices in most major European electricity markets decreased compared to the previous week. The exception was the IPEX market of Italy, with an increase of 3.5%. The EPEX SPOT market of Germany registered the largest percentage price drop, 61%. In the other markets analyzed at AleaSoft Energy Forecasting, prices fell between 20% in the Nord Pool market of the Nordic countries and 41% in the EPEX SPOT market of Belgium.
In the first week of July, weekly averages were below €60/MWh in most analyzed European electricity markets. The N2EX market of the United Kingdom and the Italian market were the exceptions, with averages of €66.68/MWh and €105.50/MWh, respectively. On the other hand, the Nordic market and the French market registered the lowest weekly averages, €21.59/MWh and €26.82/MWh, respectively. In the rest of the analyzed markets, prices ranged from €35.35/MWh in the Belgian market to €56.16/MWh in the MIBEL market of Portugal.
Regarding hourly prices, most analyzed European markets registered negative prices on Saturday, July 6. The exception was the Italian market, which did not register negative prices in the first week of July. The British market also registered negative prices on July 4 and the Portuguese market on July 7. The rest of the analyzed markets registered negative prices on those two days. The German, Belgian and Dutch markets also registered negative hourly prices on July 5. The Dutch market registered the lowest hourly price of the first week of July, €149.00/MWh, on Thursday, July 4, from 14:00 to 15:00. On the other hand, on Saturday, July 6, from 15:00 to 16:00, the Belgian market reached an hourly price of €140.00/MWh, the lowest in this market since July 2019.
During the week of July 1, the decline in the weekly average gas price and the increase in wind energy production exerted a downward influence on European electricity market prices. In addition, electricity demand decreased in some markets. The increase in solar energy production in the Iberian Peninsula also contributed to the decline in MIBEL market prices.
AleaSoft Energy Forecasting’s price forecasts indicate that, in the second week of July, prices will increase in the main European electricity markets, influenced by a decrease in wind energy production and increased demand in some markets.
