According to AleaSoft Energy Forecasting, average weekly electricity prices in most major European markets exceeded €130/MWh in the third week of January, as electricity demand and gas prices rose and wind energy production fell.
According to AleaSoft Energy Forecasting, electricity prices rose in most major European markets in the third week of January.
Compared to the previous week, AleaSoft recorded weekly average price increases in the Belgian, Dutch, French, German, Italian, Portuguese and Spanish markets and weekly average price decreases in the UK and Scandinavian markets.
Weekly averages exceeded €130 ($135.12)/MWh in all analyzed markets, except the Nordic market, where the weekly average was €21.25/MWh. The Italian and German markets reached the highest averages of the week, €147.43/MWh and €147.93/MWh respectively.
The Belgian, UK, Dutch and German markets all recorded hourly prices above €200/MWh on January 20, with the German market reaching the highest figure at €231.36/MWh.
AleaSoft said last week’s price increases were caused by a rise in the weekly price of gas and CO2 allowances, a decline in wind power production and an increase in demand in most markets.
Prices are forecast to decline in most markets analyzed in the fourth week of January, driven by an increase in wind energy production and a decline in electricity demand.
AleaSoft also said solar energy production increased last week in France, Germany, Italy, Portugal and Spain.
France, Portugal and Spain all broke their solar energy production records in one day in January. France reached 60 GWh on January 13, Portugal reached 15 GWh on January 17 and Spain reached a total of 111 GWh on January 14.
During the fourth week of January, AleaSoft predicts a further increase in solar energy production in Germany and Italy, but a decrease in Spain.
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