Image: AleaSoft Energy Forecasting
AleaSoft Energy Forecasting said that weekly average electricity prices fell across most major European markets during the week of Aug. 5. Compared to the previous week, prices decreased in the Belgian, British, Dutch, French, German, Nordic, Spanish, and Portuguese markets.
The exception was the Italian market, where the average price rose by 7.1% to €128.70 ($141.84)/MWh – the highest of all analyzed markets. The lowest average weekly price was €17.22/MWh, recorded in the Nordic market.
AleaSoft said falling electricity demand across most markets, as well as increases in wind and solar energy production in some markets, contributed to the lower prices. This is despite the ongoing upward trajectory of gas futures prices to levels above €40/MWh, which has not been seen since early December 2023.
Italy was the only market that did not record electricity prices at or below €0/MWh last week. Most markets experienced negative prices on several days, with the Dutch market recording the lowest price at -€59.97/MWh on Aug. 11.
During the second week of August, AleaSoft found that weekly solar energy production increased in France, Italy, Spain and Portugal, but fell in Germany.
The French market broke its all-time record for daily solar energy production on Aug. 5, reaching 129 GWh. Meanwhile, the German and Italian markets recorded their highest ever figures for a single day in August, registering 386 GWh on Aug. 6 and 126 GWh on Aug. 9, respectively.
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