Europe: Electricity prices ranged between 28 and 92 euros/MWh in week 18

According to AleaSoft Energy Forecasting, in the second week of May, prices in the main European electricity markets increased compared to the previous week. Most markets reached the highest prices of the week on Monday, May 6, and then fell back over the week, leaving most days at prices similar to those of previous weeks. The exception to the weekly price rises was the EPEX SPOT market of France, with a 17% drop. The Nord Pool market of the Nordic countries and the EPEX SPOT market of Germany achieved the largest percentage price increases, 12% and 18%, respectively.

In contrast, the N2EX market of the United Kingdom registered the smallest percentage increase, 1.4%. In the other markets analyzed at AleaSoft Energy Forecasting, prices rose between 2.1% in the EPEX SPOT market of the Netherlands and 11% in the MIBEL market of Portugal.

In the second week of May, despite the price increases, weekly averages remained below €65/MWh in most analyzed European electricity markets. The exceptions were the German market, the British market and the IPEX market of Italy, with averages of €67.33/MWh, €81.65/MWh and €90.86/MWh, respectively.

On the other hand, the French market registered the lowest weekly average, €28.06/MWh, thus breaking the streak that the MIBEL market had been on by reaching the lowest prices for thirteen consecutive weeks. In the rest of the analyzed markets, prices ranged from €30.81/MWh in the Spanish market to €62.81/MWh in the Dutch market.

Regarding hourly prices, most analyzed European markets registered negative prices on May 11 and 12. The exceptions were the British and Italian markets, where there were no negative prices, and the Portuguese market, which only registered negative prices on the 11th. On the other hand, the Nordic market also reached negative prices on Thursday, May 9. The rest of the analyzed markets, in addition to these three days, registered negative hourly prices on Monday, May 13. The Dutch market reached the lowest hourly price again, €200.00/MWh, on Sunday, May 12, from 13:00 to 14:00.

During the week of May 6, the fall in wind energy production and the increase in the average price of gas and CO2 emission allowances had an upward influence on European electricity market prices. In addition, electricity demand increased in the German, Spanish and Italian markets. The previous week’s public holiday on May 1 led to a decrease in demand and prices on that day in almost all markets. The Italian market also registered a decrease in solar energy production.

AleaSoft Energy Forecasting’s price forecasts indicate that prices of the analyzed European electricity markets might fall in the third week of May, influenced by the increase in wind energy production in most markets, AleaSoft Energy Forecasting reports.

Powered by

clarion.energy

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top