AleaSoft Energy Forecasting says high demand and lower solar and wind production pushed electricity prices higher in most major European markets last week.
According to AleaSoft Energy Forecasting, electricity prices rose in most major European markets last week.
Weekly average prices rose in Belgium, Britain, the Netherlands, France, Germany, Italy and the Scandinavian markets, but fell in Spain and Portugal. AleaSoft attributed the higher prices to increased demand and reduced production of solar and wind energy in some markets. In contrast, the Iberian market is of Portugal and Spain saw prices drop due to higher wind production and lower demand.
The Italian market recorded the highest weekly average price of €130.21 (€144.81)/MWh, followed by Germany and the Netherlands, with prices of €96.41/MWh and €89.88/MWh respectively. The Scandinavian market had the lowest price: €21.42/MWh.
Belgium, the Netherlands and Germany all experienced negative electricity prices, with the Dutch market reaching a low of -€10.06/MWh on August 12.
AleaSoft said it expects prices in Belgium, Britain, the Netherlands, Portugal and Spain to rise in the week of August 19, driven by increased demand for electricity. However, it predicted price falls in France, Germany and Italy.
Last week, solar energy production fell across all major European markets compared to the previous week, with France seeing the biggest decline at 19%. AleaSoft this week predicted an increase in solar production in Germany and Spain, but a continued decline in Italy.
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