Weekly average electricity prices fell across most major European markets last week, according to the latest analysis from AleaSoft Energy Forecasting.
AleaSoft says most major European markets registered high daily electricity prices towards the start of last week but falling gas prices through the week helped to push daily prices downwards as the week progressed.
Increased solar and wind energy production also contributed to lower prices in some markets, with others impacted by lower electricity demand.
In the week commencing March 23, the average electricity price was below €90 ($103.18)/MWh across the Belgian, Dutch, French, German, Nordic, Portuguese and Spanish markets. Averages in all markets, bar the French market, were down on the week prior.
Portugal and Spain had the lowest averages, at €17.69/MWh and €17.78/MWh, followed by the Nordic market at €45.10/MWh. The British and Italian markets recorded averages above €90/MWh, at €93.54/MWh and €138.15/MWh.
The Italian market saw daily prices stay above €110/MWh from Monday through Friday last week, while the German, Belgian, British, French and Dutch markets also registered prices above €110/MWh at least once.
On the opposite end of the scale, the Spanish and Portuguese markets reached the lowest daily average of the week among the analyzed markets, reaching €0.18/MWh on March 29 in both cases. This price is the lowest level since Apr. 6, 2024, in the Portuguese market and the lowest since Apr. 2, 2013, in the Spanish market.
Solar energy production increased week-on-week in Italy, Portugal and Spain last week but dropped in France and Germany. AleaSoft is predicting the upward trend will continue in Italy and Spain this week, but further decreases are forecast in Germany.
Image: AleaSoft
Italy and Spain also set new all-time records for solar energy produced during a day in March. Spain reached 194 GWh on March 24, while Italy recorded 139 GWh a day later.
TTF gas futures price started the week at their weekly maximum settlement price of €56.68/MWh. AleaSoft says U.S. President Trump’s statements about peace negotiations with Iran helped to push gas futures prices downward, reaching their weekly minimum settlement price on March 25, at €52.82/MWh.
Developments in the conflict and low European storage levels supported a price rebound toward the end of the week, AleaSoft added, with the settlement price increasing to €54.18/MWh on March 27, which remained 8.6% down on the level from the previous Friday.
AleaSoft's latest update also predicted electricity prices could fall in some markets during the first week of April but emphasized that “gas price trends will continue to shape European electricity market prices.”
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.