During the first week of November, average electricity prices rose in most major European power markets compared to the previous week. The exceptions were the Nord Pool market in the Nordic region, which fell by 13 percent, and the MIBEL markets of Portugal and Spain, where prices dropped by 29 and 30 percent, respectively. The Italian IPEX market also recorded a small decrease of 0.5 percent. In contrast, prices increased between 6 percent in France’s EPEX SPOT market and 29 percent in Germany’s EPEX SPOT market.
Weekly average prices exceeded €75/MWh in most European markets, except in the Nordic, French, Spanish, and Portuguese markets, where averages were €43.91/MWh, €47.71/MWh, €52.50/MWh, and €53.21/MWh, respectively. Italy recorded the highest weekly average price at €110.99/MWh. Other markets ranged between €79.81/MWh in Belgium and €95.39/MWh in Germany.
The Nordic market saw the lowest daily price of the week, €9.81/MWh, on November 4. In contrast, daily prices remained above €100/MWh in Italy throughout the week. The Netherlands recorded prices above €100/MWh on November 6 and 7, while Germany exceeded that level on November 6, 7, and 8. The highest daily average of the week was €116.29/MWh in Italy on November 7.
The increase in electricity demand, rising CO₂ emission allowance prices, and lower wind generation contributed to higher electricity prices across most European markets. However, stronger wind output on the Iberian Peninsula, combined with increased solar generation, helped reduce prices in the MIBEL markets.
According to AleaSoft Energy Forecasting, prices are expected to fall in the second week of November in Belgium and France due to lower electricity demand, while higher demand in the Netherlands and the United Kingdom (N2EX market) could push prices up, AleaSoft reports.
