Weekly average electricity prices fell across most major European markets during the fourth week of August, compared with the previous week. The Nordic market saw the largest drop, with prices down 20%. Portugal followed with a 17% decline, while the Netherlands recorded a 16% fall.
Germany, France and Spain also registered significant weekly declines. Spain fell by 12%, while Germany declined by 14%. Belgium recorded an 8.1% decrease, and the British market posted the smallest weekly decline at 2.2%.
Italy was the only market among those analyzed to report higher weekly averages. Prices in Italy rose by 15% during the same period.
Weekly average price levels for week of August 24
For the week of August 24, Italy recorded the highest weekly average electricity price among the markets analyzed at €194.14/MWh. Great Britain followed at €160.40/MWh. The Nordic market registered the lowest weekly average at €89.81/MWh.
The Portuguese and Spanish markets both averaged €106.46/MWh. Weekly average prices in the remaining markets ranged from €121.15/MWh in France to €132.28/MWh in Belgium, according to AleaSoft Energy Forecasting.
Daily price moves during late August
Daily pricing showed Italy staying above €190/MWh for almost all of the fourth week of August. The level was breached only on Sunday, while prices reached a weekly high of €205.52/MWh on August 27 and 28. That peak marked Italy’s highest price since August 6.
The British market maintained elevated daily prices throughout the week, with daily levels exceeding €160/MWh on several occasions. Belgium also surpassed that threshold on August 26 and 27.
A sharp decline occurred on Saturday, August 29, across Germany, France, Belgium, the Netherlands and the Nordic market. Higher wind energy production alongside lower electricity demand were cited as contributing factors to the daily price drop . On that day, the Nordic market recorded the lowest daily price among those analyzed at €15.04/MWh, while France fell to €65.33/MWh.
Wind generation and demand effects; outlook from August 31
The broader increase in wind energy production was described as a key factor behind the overall fall in European electricity prices during the fourth week of August . Italy was identified as an exception because its wind power generation rose by only 4.6%. At the same time, electricity demand increased by 15%, preventing prices from moving downward like in other markets.
For the week beginning August 31, AleaSoft Energy Forecasting expects electricity prices to rise in Spain and Portugal as wind energy production is anticipated to decline across the Iberian Peninsula . Prices are forecast to decrease in most other European markets analyzed, while France is expected to see a slight increase linked to lower wind energy production .
