In Week 49, European electricity market prices decreased due to lower gas prices and CO2 emission rights and increased wind energy generation, despite rising electricity demand. In the first week of December, gas prices declined, approaching levels seen in early October. On December 8, gas prices registered the lowest settlement price since October 2022.
Prices in almost all markets decreased compared to the previous week. In the SEE region, the price of electricity on the exchanges fell in all markets, except in Greece, by 6% on average.
Hungary and Croatia registered the highest percentage decreases, by 15% and 13%, respectively. The rest of the countries registered smaller percentage decreases, up to 9% (Italy).
In the southern part of Europe, all countries registered electricity price losses, except Greece. However, electricity prices stayed above €100/MWh.
Electricity prices ranged between 109 and 123 €/MWh, with wholesale electricity prices going lower in Croatia at a weekly average of €109.01/MWh, followed by Serbia, with electricity prices at €109.9/MWh. The Italian market registered the highest average price among the analyzed markets, with an average price of €123.31/MWh during the week, followed by Greece, with €115.28/MWh.
Weekly average spot electricity prices in Central Europe followed a downward trend in all markets during Week 49. The ample wind supply lower gas prices and the mild heating demand contributed to this trend.
All wholesale electricity markets in Central Europe experienced significant electricity price losses, with most markets posting prices below €112/MWh. France was the country with the lowest electricity price at €97.53/MWh. Switzerland was the most expensive country in Central Europe with an electricity price of €112.34/MWh.
