AleaSoft notes upward trend in European electricity prices

AleaSoft Energy Forecasting recorded a steady rise in weekly electricity prices across most major European markets last week, with only the Italian and Nordic markets bucking the trend.

Image: AleaSoft Energy Forecasting

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Weekly average electricity prices increased across most major European markets during the week commencing Feb. 24, according to analysis from AleaSoft Energy Forecasting.

AleaSoft reported a rise in weekly average electricity prices across the Belgian, British, Dutch, French, German, Portuguese, and Spanish markets compared to the previous week. The Italian and Nordic markets were the exceptions, recording a decline.

Weekly averages exceeded €100 ($108.50)/MWh in all analyzed markets except the Nordic and Spanish markets, where prices stood at €39.81/MWh and €91.68/MWh, respectively. The Italian market recorded the highest weekly average at €132.70/MWh.

Despite the overall increase, price gains remained modest, ranging from 0.9% in France to 12% in Germany. AleaSoft said lower solar and wind energy output in some markets contributed to the rise, but falling gas prices, declining carbon dioxide (CO2) emissions allowance costs, and higher electricity demand helped curb steeper increases.

AleaSoft forecasts lower prices across most markets in the first week of March, as solar and wind energy production is expected to rise and electricity demand to decline.

Solar energy production rose in France and Portugal for the second consecutive week, with both markets setting new February records. France generated 89 gigawatt-hours (GWh) on Feb. 28, while Portugal produced 20 GWh on Feb. 26.

Solar output fell in Germany, Italy, and Spain, though Spain still set a February record, reaching 134 GWh on Feb. 26.

AleaSoft expects solar energy production to increase in Germany and Spain this week but decline further in Italy.

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