Most major European electricity markets recorded a gradual increase in weekly electricity prices during the second week of May, according to Spanish consultancy AleaSoft Energy Forecasting.
The largest weekly increases were in the German and Nordic markets, at 18% and 12%, respectively. Increases were also observed in the Belgian, British, Dutch, Italian, Spanish and Portuguese markets. The only exception was the French market, where prices fell 17%.
Weekly average prices remained below €65 ($70.66)/MWh in most analyzed markets. The exceptions were the German, British and Italian markets, with respective averages of €67.33/MWh, €81.65/MWh and €90.86/MWh.
The French market had the lowest weekly average, standing at €28.06/MWh, breaking Portugal’s 13-week streak as the market with the lowest weekly prices.
All the analyzed countries, except the British and Italian markets, registered negative prices last week. For the second consecutive week, the Dutch market reached the lowest hourly price, at -€200.00/MWh, recorded on May 12 between 13:00 and 14:00.
AleaSoft said a fall in wind energy production and an increase in the average price of gas and CO2 emission allowances had an upward influence on electricity market prices. A decline in electricity demand in most major European markets last week may have also played a part, which came as countries experienced warmer than average temperatures for this time of year.
For the third week of May, AleaSoft is predicting a fall in electricity prices, driven by an increase in wind energy production across most markets.
AleaSoft said solar energy production will continue to increase in Germany in the third week of May, but fall in Spain and Italy.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.