Electricity prices fall in most European markets

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Electricity prices fell across major European markets in the second week of June, according to analysis from AleaSoft Energy Forecasting.

The Spanish consultancy recorded weekly price decreases in the Belgian, Dutch, French, German, Italian, Portuguese, and Spanish markets from the preceding week. France and Portugal saw the largest percentage decreases at 43% and 35%, respectively. 

In contrast, the British and Nordic markets, which were the only markets to record price decreases last week, were the only regions to recorded prices increases in the second week of June, at 23% and 26%, respectively.

Average electricity prices stayed below €100 ($107.20)/MWh in all analyzed markets in the second week of June. Prices were highest in the British market (€87.14/MWh) and Italian market (€99.00/MWh), and lowest in the French market (€21.01/MWh).

AleaSoft said an increase in wind energy production had a downward influence on most European electricity markets prices last week, while electricity demand also fell in Belgium, France, Spain and Portugal.

All markets bar the Italian and British recorded negative electricity prices during the second week of June. The Belgian and French markets registered the lowest hourly price, at -€80.02/MWh on June 15.

Portugal and Spain recorded their lowest hourly prices in history, at -€2.00/MWh on June 16, while France reached its lowest price since the end of May 2020, recording -€5.76/MWh on June 15.

AleaSoft said electricity prices may rise again in most markets in the third week of June, but continue to fall in the Spanish market.

Solar energy production increased in Portugal and Spain during the second week of June, but fell in Germany, France and Italy.

Portugal reached an all-time daily solar production record on June 13, when 22 GWh was generated. On the same day, France recorded its highest figure ever for a day in June, at 119 GWh.

AleaSoft said solar energy production will be higher in Germany and Spain in the third week of June.

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