During the first week of September, average electricity prices in major European markets fell compared to the previous week. The Nordic Nord Pool market and France’s EPEX SPOT market recorded the largest percentage drops at 38% and 48%, respectively. Italy’s IPEX market and Germany’s EPEX SPOT market saw the smallest decreases at 3.1% and 5.9%. Other markets analyzed by AleaSoft Energy Forecasting registered price declines ranging from 7.7% in the UK’s N2EX market to 31% in Spain and Portugal’s MIBEL market.
Weekly average prices were below €75/MWh in most markets, with exceptions in Germany and Italy, which averaged €84.90/MWh and €106.46/MWh, respectively. France recorded the lowest weekly average at €28.79/MWh. Other markets had averages between €43.61/MWh in the Nordic region and €74.46/MWh in the UK.
On a daily basis, Belgium, the UK, Spain, France, the Nordics, and Portugal saw prices drop below €30/MWh on certain days. France reached the lowest daily average of the week on Sunday, September 7, at €13.24/MWh, its lowest since August 6. Spain and Portugal recorded their lowest daily averages on Saturday, September 6, at €26.54/MWh, the lowest since June 16.
In contrast, Germany and Italy experienced daily prices above €100/MWh on some days. Germany’s highest daily average during the week was €122.09/MWh on September 2, the highest since July 2, rising further to €123.56/MWh on Monday, September 8.
The decline in weekly gas prices and increased wind energy production in most markets contributed to falling electricity prices. Reduced electricity demand in Spain, France, and the Netherlands, along with higher solar output in Spain, France, and Italy, also supported the downward trend.
AleaSoft Energy Forecasting predicts that prices will rise in European markets during the second week of September, driven by a drop in wind energy production. Solar energy output is also expected to decrease in Germany and Italy, AleaSoft reports.
