Most European markets see electricity prices rise
Weekly average electricity prices increased across most major European markets during the second week of February, according to analysis from AleaSoft Energy Forecasting.
When compared to the week prior, AleaSoft noted price increases in the Belgian, British, Dutch, French, German, Italian and Nordic markets, while the Portuguese and Spanish markets were the only analyzed markets to see the weekly average price drop.
Weekly averages were above €140 ($146.35)/MWh in all markets except the Nordic, Portuguese and Spanish markets. The Italian market had the highest average of the week, at €159.40/MWh, and the Nordic market the lowest, at €88.82/MWh.
AleaSoft attributed the price increases across most markets to a drop in solar and wind production alongside an increase in electricity demand. The Portuguese and Spanish markets bucked this trend, experiencing lower demand and an increase in wind energy production, helping them to enjoy lower prices.
The weekly average gas price was also slightly higher than the week prior, although it began to drop towards the end of the week, AleaSoft’s analysis adds.
During the third week of February, AleaSoft is predicting electricity prices to fall across the majority of markets, influenced by a decrease in demand.
Solar energy production fell across the French, German, Italian, Portuguese and Spanish markets last week, reversing an upward trend recorded across these markets the two weeks prior.
Despite this, the French market broke its historical record for solar production during a day in February, reaching 79 GWh on February 15.
AleaSoft is forecasting the third week of February will see an increase in solar energy production across Germany, Italy and Spain.
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