The fourth week of August saw average electricity prices fall across most major European electricity markets, according to analysis from AleaSoft Energy Forecasting.
Weekly average prices fell from the week prior in Belgium, Britain, the Netherlands, France, Germany, Italy, and the Nordic markets, but increased in Spain and Portugal.
AleaSoft said price decreases were driven by a fall in weekly average gas prices, an increase in wind production in most markets, and a drop in electricity demand in some markets. Portugal and Spain’s price increases were driven by a decline in wind and solar production.
The Italian market continued to record the highest weekly average price at €123.31 ($136.99)/MWh, followed by the Spanish and Portuguese markets at €82.34/MWh and €82.60/MWh.
The rest of the analyzed markets had weekly averages below €65/MWh, with the Nordic market recording the lowest average, at €7.42/MWh.
All analyzed markets, bar the Italian market, registered negative electricity prices on Aug. 25. The UK market reached negative prices four days last week, while the Belgian, Dutch, French, German and Nordic markets posted negative prices on five days. The Dutch market registered the lowest hourly price of all at -€44.92/MWh on Aug. 24.
AleaSoft said it expects prices to increase in most analyzed markets this week, driven by a fall in wind energy production and increase in electricity demand.
Last week, solar energy production decreased in Germany, Portugal, and Spain, but increased in France and Italy. AleaSoft forecasts higher solar production in Germany this week, with declines in Italy and Spain.
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.