Electricity prices fall across major European markets

AleaSoft Energy Forecasting says average electricity prices fell across Europe last week, but France, Germany and Italy all broke their records for solar production on a single day in March.

Image: AleaSoft Energy Forecasting

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Weekly average electricity prices fell across major European markets during the first week of March, according to AleaSoft Energy Forecasting.

The consultancy recorded price decreases in the Belgian, British, Dutch, French, German, Italian, Nordic, Portuguese, and Spanish markets from the previous week.

The decline pushed weekly averages below €95 ($103.53)/MWh in all analyzed markets except Britain and Italy, where averages reached €107.29/MWh and €123.11/MWh, respectively. The Nordic market recorded the lowest average at €17.44/MWh.

AleaSoft attributed the price drop to lower natural gas and CO2 emission allowance prices, along with reduced electricity demand across most markets. Wind energy production also rose in some markets.

For the second week of March, AleaSoft expected prices to increase in most markets, driven by higher electricity demand and lower wind energy output.

AleaSoft said solar energy production rose in France, Germany, and Italy during the first week of March.

Each country broke its record for daily solar generation for the month, with France producing 133 GWh on March 5, Germany generating 273 GWh on March 6, and Italy reaching 109 GWh on March 4.

AleaSoft said solar production will likely fall in Germany and Italy during the second week of March, but increase in Spain.

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