In the third week of September, average electricity prices rose in most major European markets compared to the previous week. Notable exceptions included the EPEX SPOT market in France, the Netherlands, and Belgium, which saw decreases of 17%, 2.9%, and 0.7%, respectively. The Nord Pool market in the Nordic countries experienced the most significant increase, with prices surging by 91%. Other markets analyzed by AleaSoft Energy Forecasting recorded price increases ranging from 0.5% in the EPEX SPOT market of Germany to 18% in the MIBEL market of Spain and the N2EX market in the UK.
Weekly average prices remained below €81/MWh in most of the examined European markets, with the UK’s N2EX market averaging €95.81/MWh and Italy’s IPEX market reaching €111.60/MWh. The Nordic market had the lowest weekly average at €25.84/MWh, while prices in other markets ranged from €42.86/MWh in France to €80.26/MWh in Germany.
Throughout the week, several markets reported zero or negative hourly prices. The lowest price of the week, €3.95/MWh, occurred on Saturday, September 21, from 14:00 to 15:00, in the German, French, Dutch, and Belgian markets. On September 16 and 17, zero prices were recorded in the Spanish, Portuguese, and French markets for several hours, while negative prices appeared in the German, Dutch, and Belgian markets on September 18, 19, and 20. The German market saw negative prices again on September 22. Conversely, the Italian market did not experience zero or negative prices but recorded the highest hourly price of the week at €180.32/MWh on September 16 from 18:00 to 19:00.
The increase in electricity prices during the week of September 16 was influenced by declining wind and solar energy production across most major European markets, despite a general decline in gas and CO2 prices. Rising electricity demand in some markets further contributed to this trend. Looking ahead, AleaSoft Energy Forecasting forecasts a decrease in prices for the fourth week of September, driven by a rebound in wind energy production across most markets and an increase in solar energy production in Spain, AleaSoft reports.
