Electricity prices remained stable across most major European electricity markets during the third week of July, according to analysis from AleaSoft Energy Forecasting.
The Spanish consultancy noted a week-on-week increase in the weekly average electricity price in the British, Dutch, French, German, Italian, Portuguese and Spanish markets.
The increase was small in most cases, ranging from 0.1% in the Netherlands and 0.2% in Portugal to 8.8% in Italy. The outlier was France, where the weekly average price rose by 22% thanks to a price spike concentrated in the start of the week.
The Belgian and Nordic markets were the only analyzed markets to see a drop in their weekly average electricity price, down 1.3% and 2.5% respectively.
Last week’s results mean most of the markets retained weekly price averages above €75 ($88.03)/MWh, with only the Nordic (€33.12/MWh) and French (€60.89/MWh) markets below this figure. The Italian market continued to have the highest price of the week, at €117.87/MWh, followed by the British market, at €95.53/MWh.
The Belgian, German, Dutch, Spanish and Portuguese markets recorded negative values during some hours of the third week of July, with the Iberian market of Portugal and Spain registering the lowest hourly price of the week, at -€1.01/MWh on July 20 between 16:00 and 17:00.
AleaSoft is forecasting the fourth week of July will see a decrease in electricity prices across major European markets, driven by lower electricity demand and an increase in wind energy production.
The consultancy also noted that last week saw a week-on-week increase in solar energy production in Germany, Portugal and Spain but a decrease in France and Italy.
Spain broke its record for daily solar energy production on July 16, reaching 237 GWh, while Portugal set a new best for solar produced on a day in July when it recorded 30 GWh two days prior.
AleaSoft is expecting solar energy production to have declined across the German, Italian and Spanish markets this week.
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