Weekly electricity prices increased in all major European markets last week, except for the British and Nordic markets, according to AleaSoft Energy Forecasting.
Electricity prices across major European markets increased in the first week of June, according to analysis from AleaSoft Energy Forecasting.
The Spanish consultancy recorded weekly price increases in the Belgian, Dutch, French, German, Italian, Portuguese, and Spanish markets compared to the preceding week. Spain and Portugal saw the largest percentage increases at 261% and 269%, respectively. In contrast, the British and Nordic markets experienced price decreases of 16% and 1.2%.
AleaSoft said a decline in wind energy production, alongside increased demand in markets including Germany, Spain and Portugal, had an upward influence on electricity prices last week.
Average prices were above €65 ($69.89)/MWh in all markets bar the Nordic (€27.26/MWh) and French (€36.86/MWh). The Italian market had the highest weekly average price, at €107.73/MWh.
Despite increases in hourly prices, all analyzed markets, except the Italian market, recorded negative electricity prices on June 9. The Belgian, British, Dutch, French, German and Nordic markets registered negative prices on multiple days last week.
Belgium registered the lowest hourly price during the first week of June, at -€58.97/MWh between 13:00 and 14:00 on June 9, while Germany recorded the highest price, reaching €235.53/MWh on June 4.
AleaSoft said prices in most analyzed markets may decrease in the second week of June, influenced by an increase in wind energy production and decrease in demand.
Meanwhile, solar energy production increased across most major markets in the first week of June. Germany, Italy and Portugal all recorded their highest daily production ever for a day in June, Germany reached 362 GWh and Italy 128 GWh on June 6, while Portugal hit 20 GWh on June 3.
AleaSoft said solar energy production will decrease during the second week of June.
