Weekly average electricity prices fell across most major European markets last week, according to AleaSoft Energy Forecasting.
The consultancy recorded price declines in the Belgian, British, Dutch, French, German, Nordic, Portuguese, and Spanish markets, with the Italian market being the only exception.
Averages in all analyzed markets, except the British and Italian markets, fell below €85 ($91.56)/MWh. The British average was €107.21/MWh, and Italy’s stood at €123.25/MWh. The Nordic market had the lowest weekly average, at €29.68/MWh.
AleaSoft attributed the price decline to lower electricity demand and higher wind energy production, despite an increase in CO2 emission allowance prices. However, Italy saw higher demand and lower wind energy production, which led to higher prices there.
AleaSoft predicts electricity prices will rise again across most markets during the fourth week of March.
The consultancy also reported an increase in solar energy production in France, Germany, and Italy during the third week of March.
Each country set new records for solar production during a day in March. France produced 120 GWh on March 18, Germany reached 324 GWh the same day, and Italy recorded 121 GWh on March 20. These levels last occurred in August and September of the previous year.
AleaSoft forecasts increased solar energy production in Spain during the fourth week of March, following a decrease the previous week, while it expects declines in Germany and Italy.
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