Electricity prices rising in most European markets

AleaSoft Energy Forecasting recorded electricity price increases in most major European markets during the third week of April. It says prices could continue to increase in the fourth week of April, due to rising electricity demand.

Image: AleaSoft Energy Forecasting

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Analysis from AleaSoft Energy Forecasting shows that electricity prices increased in most major European markets on a weekly basis during the third week of April. 

The Spanish consultancy recorded weekly average electricity price increases in the Belgian, British, French, Dutch, German, Italian and Nordic markets. The Nord Pool market, encompassing the Nordic countries, posted the largest percentage price increase at 111%, followed by a 72% jump in the Belgian market.

The exceptions were the Portuguese and Spanish markets, which recorded weekly average electricity price decreases of 29% and 33%, respectively.

Throughout the third week of April, weekly averages exceeded €50 ($53.20)/MWh in most analyzed European markets. The highest weekly averages were recorded in the German and Italian markets, at €70.93/MWh and €91.59/MW, respectively.

The exceptions were the Portuguese, Spanish and French markets, with averages of €4.85/MWh, €5.09/MWh and €21.38/MWh, respectively. The Portuguese and Spanish markets have now had the lowest prices for 11 consecutive weeks.

Although most electricity prices increased last week, all markets bar the Italian and Nordic markets recorded negative prices. The Belgian market reached the lowest hourly price, registering -€35.00/MWh on April 21 between 11:00 (CEST) and 12:00. 

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AleaSoft attributed the rise in average electricity prices across most markets to an increase in the average price of gas and CO2 emission prices, along with heightened electricity demand in most markets. Higher electricity demand coincided with average temperatures dropping in most analyzed markets.

AleaSoft predicted that electricity prices might continue to increase in the fourth week of April, due to higher electricity demand and a drop in wind energy production.

Throughout the third week of April, AleaSoft recorded solar energy production increases in the Spanish and French markets for the third consecutive week, at 10% and 1.5%, respectively. The Spanish market’s highest-ever figure during April was recorded on April 19, at 154 GWh.

Solar energy production decreases of 25%, 9.2% and 0.3% were registered in the German, Italian and Portuguese markets.  For the fourth week of April, AleaSoft said that solar production could increase again in Germany, but fall in Italy and Spain.

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