Price increase in all European electricity markets

Last week the electricity market in Spain and Portugal

AleaSoft reports that last week the electricity market in Spain and Portugal was more expensive than the Italian one, recording a greater increase. The upward trend depends on the increase in CO2 and gas prices, as well as on the increase in electricity demand in most European countries.

In the week of August 14, prices in all European electricity markets analyzed by AleaSoft Energy Forecasting increased compared to the previous week.

“The Nord Pool market in the Nordic countries saw the largest price increase, 168%. In the EPEX SPOT market of Germany and the Netherlands, prices increased by 50% and 46%, respectively. In the other markets, prices have increased between 7.5% of the UK N2EX market and 17% of the Belgian EPEX SPOT market,” says the Spanish consultancy.

In the third week of August, the weekly averages were above €90/MWh in almost all European electricity markets. The exception was the Nordic market with the lowest average of €33.25/MWh. The MIBEL market of Spain and Portugal recorded the highest average price, equal to 106.24 €/MWh. In the other markets analysed, prices ranged from 90.77 €/MWh in the French market to 105.97 €/MWh in the Italian IPEX market, the second most expensive.

Comparing solar power generation to the previous week, solar power generation increased in the German, Spanish and Portuguese markets, with increases of 8.3%, 3.7% and 1.2% respectively. The opposite trend was observed in the Italian and French markets, with declines of 6.3% and 7.3% respectively.

For the week of August 21, AleaSoft Energy Forecasting forecasts a decrease in solar energy production in the German and Italian markets, and a simultaneous increase in Spain.

“In the week ending August 14, electricity demand increased in central and northern European markets and decreased in southern European markets. The largest increase of 9.8% was observed in the Dutch market, followed by the 4.8% increase recorded in the Belgian market. In the French, German and British markets, the increase in demand was between 2.3% and 1.8%. The opposite trend was observed in the Iberian Peninsula, with a drop of 9.6% in the Portuguese market and 4.3% in the Spanish one. Similarly, the demand in the Italian market decreased by 1.1%”, reported AleaSoft Energy Forecasting.