The weekly average electricity price increased across most major European markets during the second week of September, according to analysis by AleaSoft Energy Forecasting.
The Spanish consultancy noted an increase in the weekly average electricity price across the Belgian, Dutch, French, German, Italian, Portuguese and Spanish markets when compared to the week prior. The exceptions were the British and Nordic markets, where the average electricity price fell week-on-week.
Despite the upward trend, averages remained below €75 ($88.27)/MW in most analyzed markets, with the Dutch (€85.92/MWh), German (€92.99/MWh) and Italian (€111.16/MWh) markets the exceptions. The lowest average weekly price was recorded in the French market, at €26.36/MWh.
AleaSoft says the hike in average electricity prices was caused by a rise in weekly gas and CO2 emission allowance prices, alongside an increase in electricity demand in some markets and a drop in solar energy production in France, Germany and Italy.
The consultancy is expecting electricity prices to fall across most analyzed markets during the third week of September, mostly influenced by a decline in electricity demand.
AleaSoft also found solar energy production increased in the Iberian markets of Portugal and Spain last week. Both nations broke their records for solar energy produced on a day in September, with Portugal reaching 25 GWh on September 9 and Spain hitting 193 GWh on September 12.
AleaSoft is predicting that this week will see solar energy production increase in Germany and Italy, alongside further solar increases in Spain.
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