During the fourth week of March, most major European electricity markets recorded high daily prices at the beginning of the week, particularly on Monday, March 23. Prices generally declined throughout the week, with brief rebounds on Thursday and Friday, leading to lower weekly averages across most markets. The French market was the exception, posting a 38% increase, while the Portuguese and Spanish markets saw the sharpest declines, falling by 49% and 50%, respectively. In other analyzed markets by AleaSoft Energy Forecasting, price decreases ranged from 7.3% in Italy to 26% in Great Britain.
Throughout the week, most European markets maintained average prices below €90/MWh. The United Kingdom (€93.54/MWh) and Italy (€138.15/MWh) were the only exceptions. On the lower end, the Portuguese (€17.69/MWh) and Spanish (€17.78/MWh) markets recorded the cheapest weekly averages. Elsewhere, prices ranged from €45.10/MWh in the Nordic market to €88.04/MWh in Germany, reflecting varying market dynamics across the continent.
Daily prices showed particularly low levels in the Iberian markets, where values dropped below €10/MWh from March 26 to March 29. On Sunday, March 29, both Spain and Portugal reached a record-low daily average of €0.18/MWh, marking historic minimums for both markets. On March 25, the Belgian (€35.03/MWh) and Dutch (€42.24/MWh) markets recorded their lowest daily prices since late October 2025, while the German (€37.68/MWh) and British (€48.12/MWh) markets hit their lowest levels since early January 2026.
In contrast, the Italian market remained consistently high, with daily prices staying above €110/MWh and exceeding €135/MWh for most of the week. Other markets, including Germany, Belgium, Great Britain, France, and the Netherlands, also experienced high-price sessions above €110/MWh. The highest daily average of the week was recorded in Italy on March 23, reaching €165.24/MWh.
Overall, declining gas prices early in the week contributed to downward pressure on electricity prices across Europe. In Spain, Portugal, and Italy, increased solar and wind generation, combined with lower electricity demand in the Iberian Peninsula, further supported price reductions and led to the lowest weekly levels.
Looking ahead, AleaSoft Energy Forecasting suggests that electricity prices could decline in some markets during early April, driven by weaker demand, although gas price movements will continue to play a key role in shaping overall European electricity market trends, AleaSoft reports.
