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Most European Markets Experience Electricity Price Increases

Most European Markets Experience Electricity Price Increases
Most European Markets Experience Electricity Price Increases

During the third week of April, AleaSoft Energy Forecasting observed a general rise in electricity prices across major European markets, except for Portugal and Spain, where prices decreased by 29% and 33%, respectively. The Belgian and Nordic markets saw the most significant percentage increases at 72% and 111%, respectively. Despite this trend, most markets experienced negative prices, with Belgium reaching the lowest hourly price at -€35.00/MWh.

The weekly average electricity prices surpassed €50/MWh in most analyzed European markets, with Germany and Italy reporting the highest averages at €70.93/MWh and €91.59/MWh, respectively. Conversely, Portugal, Spain, and France had notably lower averages at €4.85/MWh, €5.09/MWh, and €21.38/MWh, respectively. Notably, Portugal and Spain consistently maintained the lowest prices for 11 consecutive weeks.

ElectriciMost European Markets Experience Electricity Price Increasesty prices rising in most European markets

Most European Markets Experience Electricity Price Increases (Credits: PV Magazine)

AleaSoft attributed the price increases to a rise in gas and CO2 emission prices, coupled with heightened electricity demand and decreasing temperatures in most markets. Despite the overall price hike, AleaSoft predicted further increases in the fourth week of April due to sustained high demand and reduced wind energy production.

Solar energy production exhibited varying trends across different markets during the third week of April. While Spain and France saw increases of 10% and 1.5%, respectively, Germany, Italy, and Portugal experienced decreases of 25%, 9.2%, and 0.3%, respectively.

The Spanish market notably achieved its highest-ever production figure for April on April 19, reaching 154 GWh. Looking ahead, AleaSoft anticipated potential increases in solar production in Germany but declines in Italy and Spain for the fourth week of April.

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