Image: AleaSoft Energy forecast
According to AleaSoft Energy Forecasting, the first week of January saw an increase in electricity prices in some major European markets, but a decrease in prices in others.
AleaSoft noted an increase in weekly average electricity prices in the Italian, Scandinavian, Portuguese and Spanish markets compared to the previous week. The consultancy recorded a decline in average prices on the Belgian, British, Dutch, French and German markets.
All analyzed markets, with the exception of the Scandinavian and German markets, recorded weekly averages above €85 ($87.59)/MWh. The Scandinavian market had the lowest average, at €34.96/MWh, while the Italian market had the highest average, at €140.39/MWh.
Countries that saw electricity prices rise were affected as TTF gas futures prices reached a weekly settlement price of €50.20/MWh on January 2, the highest level recorded by AleaSoft since October 2023. Meanwhile, high levels of wind production in France and Germany allowed electricity prices in these markets to fall.
AleaSoft predicts that the second week of January will bring an increase in electricity prices in most of the markets analyzed. However, a decline in electricity prices is expected in Italy, Portugal and Spain, due to a predicted increase in wind energy production.
The first week of January also saw a week-on-week decline in solar energy production in France, Germany, Italy, Portugal and Spain, AleaSoft said.
The consultancy said the second week of January will see a rise in solar energy production in Germany, while the downward trend is expected to continue in Italy and Spain.
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