Most major European electricity markets experienced an increase in average electricity prices last week, according to analysis by AleaSoft Energy Forecasting.
Compared to the week prior, AleaSoft found weekly average prices increased in the Belgian, Dutch, French, German, Italian, Portuguese and Spanish markets. The exceptions were the British and Nordic markets, where average weekly prices fell by 1.4% and 15%.
AleaSoft said a drop in solar and wind energy production alongside higher electricity demand across most markets contributed to the rising prices.
Despite the increases, weekly averages stayed below €81 ($87.34)/MWh in all markets, bar the British and Italian markets, which continued to have the highest prices, at €95.55/MWh and €116.16 MWh. The Nordic market continued to register the lowest weekly average at €22.73/MWh.
All analyzed markets, except for the Italian and Portuguese, registered negative electricity prices on Oct. 20, which AleaSoft attributed to the usual decrease in demand recorded on Sundays, alongside high levels of renewable energy production in some markets on this day. The Belgian, Dutch, French and German markets reached the lowest price of -€2.01/MWh on the afternoon of Oct. 20.
AleaSoft is predicting that electricity prices will continue to increase during the fourth week of October, influenced by a continued decline in wind energy production and increased demand in most markets.
Last week, solar energy production fell week on week in France, Germany and Italy, but increased across Portugal and Spain. AleaSoft said it expects this week will bring an increase in solar energy production in Germany and Spain, but an ongoing decline in Italy.
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