Weekly electricity prices dropped in all major European markets last week, according to analysis by AleaSoft Energy Forecasting.
Electricity prices fell across the Belgian, British, Dutch, French, German, Italian, Nordic, Portuguese and Spanish markets compared to the week prior. The Dutch market registered the smallest percentage price decline at 16%, while the French market recorded the largest percentage drop at 38%.
Weekly averages were below €80 ($89.03)/MWh in all analyzed markets bar the United Kingdom and Italy, which recorded averages of €81.28/MWh and €107.91/MWh. The Nordic market continued to have the lowest weekly average, at €13.55/MWh.
All analyzed markets, except the Italian and Portuguese, registered negative electricity prices on at least one day last week. The Dutch market reached the lowest price, of -€1.83/MWh on Sept. 10, while the German market saw the highest price, reaching €300.01/MWh on Sept. 12.
AleaSoft said a decrease in the weekly average price of gas and CO2 emission allowances, a drop in electricity demand, and an increase in solar and wind energy production across most markets contributed to the decline in electricity prices last week.
The consultancy said it expects the trend to continue across most markets during the third week of September, but predicts that prices will increase in the British, Dutch and Italian markets.
Meanwhile, solar energy production increased in France, Italy and Spain last week, but declined in Germany and Portugal.
France, Italy and Spain all broke their records for daily solar production on a day in September. The Spanish market recorded 176 MWh on Sept. 9, the Italian market reached 104 GWh on Sept. 10 and the French market hit 107 GWh on Sept. 15.
During the third week of September, AleaSoft said that solar energy production will increase in Germany but decrease in Italy and Spain.
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