In the final week of May, average electricity prices declined in most major European markets compared to the previous week. However, prices rose in the Iberian Peninsula, France, and Italy. The MIBEL market in Portugal and Spain saw the largest percentage increases, with Portugal up by 163 percent and Spain by 207 percent. In France’s EPEX SPOT market, prices increased by 45 percent, while the Italian IPEX market recorded a more modest rise of 1.3 percent. Despite this increase, Italian prices mostly trended downward from Wednesday, May 28. In other analyzed markets by AleaSoft Energy Forecasting, prices dropped between 9.4 percent in the Netherlands’ EPEX SPOT market and 28 percent in the United Kingdom’s N2EX market.
During the week of May 26, average prices remained below €65 per megawatt-hour in most European electricity markets. The exception was Italy, where the weekly average reached €97.77/MWh. The Nord Pool market of the Nordic countries recorded the lowest weekly average at €15.94/MWh. In the remaining markets, prices ranged between €28.00/MWh in France and €61.93/MWh in Germany.
Daily price trends showed the Nordic market registering averages below €10/MWh on three days during the final week of May. On Sunday, June 1, this market recorded the lowest daily average of all analyzed markets, at €6.92/MWh. In contrast, the Italian market exceeded €100/MWh on three days during the same week, reaching its peak on Tuesday, May 27, with an average of €115.18/MWh.
Regarding hourly prices, negative hourly values were observed in most European electricity markets during the last week of May, with the exception of Italy and Portugal. The lowest hourly prices in the German, Belgian, French, and Dutch markets occurred on Sunday, June 1, between 14:00 and 15:00, all reaching €20.41/MWh. In the Nordic market, the lowest hourly price of the week was recorded on Saturday, May 31, between 13:00 and 14:00, at €2.71/MWh — the lowest since August 26, 2024.
The drop in average gas prices and CO2 emission allowance costs, along with decreased electricity demand in some regions, contributed to the overall decline in prices. However, increased demand and reduced wind energy production in Spain, Italy, and Portugal led to price increases in those specific markets.
According to AleaSoft Energy Forecasting, electricity prices are expected to rise in most European markets during the first week of June, driven by an anticipated increase in demand, AleaSoft reports.
