Electricity prices fell across most major European markets during the second week of November, according to analysis by AleaSoft Energy Forecasting.
When compared to the week prior, the Spanish consultancy recorded a drop in the weekly average electricity price in the Belgian, British, Dutch, French, German, Portuguese and Spanish markets. The exceptions were the Italian and Nordic markets, where the weekly average price increased by 3.6% and 6.1% respectively.
As a result of the downward trend, weekly averages were below €85 ($97.80)/MWh across all markets bar the Dutch (€85.74/MWh), German (€93.69/MWh) and Italian (€115.19/MWh) markets. The French market had the lowest average of the week, at €31.28/MWh.
AleaSoft says an increase in wind energy production and a decline in gas prices contributed to the lower averages across most markets last week. In Belgium and France, electricity demand also decreased, while in Italy, demand increased and wind energy fell, leading to the price hike.
The week commencing November 17 is expected to bring an increase in the weekly average electricity price to most markets, AleaSoft predicts, driven by increased electricity demand in most cases.
AleaSoft also found solar energy production decreased last week across France, Germany, Italy, Portugal and Spain. Portugal recorded the largest week-on-week decline, at 45%, while Italy saw the smallest drop, at 11%.
The consultancy is expecting this current week to bring an increase in solar energy production in Spain, but further decreases in Germany and Italy.
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