European electricity market summary

Average electricity prices fell across most major European markets during the fourth week of January, according to AleaSoft Energy Forecasting’s latest analysis, but prices remained above €100 ($103.72)/MWh in all analyzed markets bar the Nordic market.

AleaSoft Energy Forecasting says TTF gas futures hit their highest settlement price since October 2023 in early January 2025, driving up electricity prices in several major European markets.

AleaSoft Energy Forecasting says weekly average electricity prices were above €110 ($116.05)/MWh in all major electricity markets last week, bar the Nordic market. The increase came as most analyzed markets reached their highest hourly price recorded so far this year.

AleaSoft Energy Forecasting says it recorded weekly average electricity prices in excess of €70 ($75.90)/MWh in all major European markets last week, except for the Nordic market, as gas prices reached their highest level so far this year.

AleaSoft says that rising electricity demand and higher solar and wind production caused electricity prices to drop across most European markets last week, despite an uptick in gas prices. France set a record for daily solar production on Aug. 5, reaching 129 GWh.

UK based energy data service provider and consultancy EnAppSys released its quarterly review of the European energy market. While renewables have covered a large chunk of the continent’s demand, that trend will likely change in the second half of the year, as production from renewables falls. Meanwhile, coal generation is being pushed out of the U.K. market, although not fully to the benefit of renewables as gas-fired power plants are picking up momentum.