In week 44, electricity prices in the main European markets showed an upward trend compared to week 43. The MIBEL market of Spain and Portugal reached the highest price rises, 148% and 161%, respectively. The N2EX market of the United Kingdom registered the smallest increase, 8.1%. Elsewhere, prices rose between 27% in the IPEX market of Italy and 69% in the Nord Pool market of the Nordic countries.
In the second week of November, weekly averages were below €100/MWh in most of the European electricity markets analyzed at AleaSoft Energy Forecasting. The exceptions were the British and Italian markets, where the averages were €107.11/MWh and €121.54/MWh, respectively. For the third consecutive week, the Portuguese and Spanish markets registered the lowest average prices, €56.90/MWh and €57.11/MWh, respectively. In the rest of the analyzed markets, prices ranged from €72.56/MWh in the Nordic market to €95.54/MWh in the EPEX SPOT market of the Netherlands.
Despite the rise in the weekly average in the second week of November, the MIBEL market registered thirty-six hours with prices below €10/MWh on November 6, 11 and 12. On the other hand, on Tuesday, November 7, from 18:00 to 19:00, the Nordic market reached the highest price since the beginning of April, €149.86/MWh.
During the week of November 6, the increase in demand and the fall in wind energy production in Europe caused electricity market prices to rise.
AleaSoft Energy Forecasting’s price forecasts indicate that in the third week of November prices in most European electricity markets might continue to rise. Declining wind energy production will contribute to this behaviour.