European electricity prices remained stable during the fourth week of July, according to analysis by AleaSoft Energy Forecasting.
When compared to the week prior, price increases were recorded in the Dutch, German, Nordic, Portuguese and Spanish markets. AleaSoft says a drop in wind and solar energy production in Germany and an electricity demand increase in Portugal and Spain had a small upward influence on prices in these countries.
Meanwhile, the Belgian, British, French and Italian markets recorded price decreases. AleaSoft says this was down to decreased demand in these markets, while Italy also saw wind energy production increase.
During the fourth week of July, weekly averages were below €85 ($92.03)/MWh in all markets except the British and Italian, where averages stood at €87.39/MWh and €113.20/MWh. The Nordic market had the lowest average, at €24.90/MWh.
All analyzed markets, except the British and Italian, recorded negative electricity prices on at least one day last week. The Dutch market recorded the lowest price, at -€64.13/MWh, on July 28 between 13:00 and 14:00.
During the week commencing July 29, AleaSoft is expecting electricity prices to be similar to last week, but predicts a small drop in prices in the Belgian, Dutch, French and German markets and small increases in the British, Italian, Portuguese and Spanish markets.
The fourth week of July also saw solar energy production increase by 4.9% week-on-week in Spain and by 2.4% in Portugal. Meanwhile, it decreased by 16% week-on-week in Germany and by 3.2% in Italy. Despite the decline, Italy recorded its highest-ever figure for a day in July on July 28, reaching 126 GWh.
AleaSoft says the week commencing July 29 will see this week’s trends reverse, with solar production increasing in Germany and Italy and falling in Spain.
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