The weekly average electricity price was more than € 140 ($ 146.35)/MWh last week on most major European markets, due to a decrease in solar and wind production and the increased electricity demand, according to the latest analysis of ALEASOFT.
Weekly average electricity prices rose on most major European markets in the second week of February, according to analysis of ALEASOFT Energy Prognosing.
Compared to the week before, ALEASOFT noted that the price increases in the Belgian, British, Dutch, French, German, Italian and Nordic markets, while the Portuguese and Spanish markets were the only analyzed markets that are falling the weekly average price.
Weekly averages were more than € 140 ($ 146.35)/MWh in all markets except the Nordic, Portuguese and Spanish markets. The Italian market had the highest average of the week, at € 159.40/m
ALEASOFT attributed the price increases in most markets to a decrease in solar and wind production in addition to an increase in demand for electricity. The Portuguese and Spanish markets have covered this trend, with a lower demand and an increase in the production of wind energy, so that they are helped to enjoy lower prices.
The weekly average gas price was also slightly higher than the week before, although it started to fall by the end of the week, ALEASOFT’s analysis adds.
During the third week of February ALEASOFT predicts electricity prices on most markets, influenced by a fall in demand.
The production of solar energy fell into the French, German, Italian, Portuguese and Spanish markets last week and turned into an upward trend two weeks earlier that was registered in these markets.
Nevertheless, the French market broke its historical record for solar production during a day in February and reached 79 GWH on 15 February.
ALEASOFT predicts that the third week of February will see an increase in solar energy production in Germany, Italy and Spain.
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