During the second week of March, electricity prices in major European markets increased, reaching their highest daily levels on Tuesday, March 10, in most cases. Prices then declined until Friday and recovered over the weekend in some markets. The weekly average price in Italy rose by 4.4%, while Portugal saw an increase of 22%, and Spain and France both recorded rises of 23%. In contrast, other markets analyzed by AleaSoft Energy Forecasting experienced declines, ranging from 4.3% in Belgium to 21% in the Nordic market.
During the week of March 9, weekly averages exceeded €80/MWh in most European markets. Exceptions included the Nordic, Portuguese, and Spanish markets, with averages of €66.15/MWh, €67.88/MWh, and €70.03/MWh, respectively. Italy registered the highest weekly average at €147.54/MWh, while other markets ranged between €80.77/MWh in France and €105.07/MWh in Great Britain.
Regarding daily prices, on Sunday, March 15, Spain and Portugal recorded the lowest daily averages of the week, €6.44/MWh. Both markets also saw prices below €20/MWh on Saturday, March 14, while the Nordic market fell to €15.51/MWh on Friday, March 13, marking its lowest level since December 28, 2025.
Meanwhile, daily prices in Italy remained above €140/MWh throughout the week, except on Sunday. Other analyzed markets also registered sessions above €100/MWh. On March 10, Italy reached the highest daily average of the week at €168.54/MWh, its highest since February 14, 2025. On the same day, Portugal and Spain recorded their highest prices since February 18, 2025, at €131.79/MWh and €136.86/MWh, respectively. In Great Britain, the March 9 daily price peaked at €150.24/MWh, the highest since February 15, 2025. Belgium reached €146.22/MWh on March 10, its highest since July 2, 2025.
During the week, high gas prices and lower wind energy production in the Iberian Peninsula and Italy pushed prices upward in Spain, Italy, and Portugal. Higher demand also supported price increases in Portugal and France, while stronger wind generation in other markets exerted downward pressure.
AleaSoft Energy Forecasting expects prices to remain high and trend upward as Middle East instability continues to pressure gas prices. In this context, lower wind generation in the Iberian Peninsula and reduced solar output in Spain will influence Spanish and Portuguese market prices during the third week of March. However, higher renewable generation in most major European markets could partially ease price pressures, AleaSoft reports.
