According to AleaSoft Energy Forecasting, in the second week of June, prices in most major European electricity markets fell compared to the previous week. The exceptions were the N2EX market of the United Kingdom and the Nord Pool market of the Nordic countries, with increases of 23% and 26%, respectively. In contrast, the EPEX SPOT market of France registered the largest percentage price drop, 43%.
In the rest of the markets analyzed at AleaSoft Energy Forecasting, prices fell between 8.1% in the IPEX market of Italy and 35% in the MIBEL market of Portugal.
In the second week of June, weekly averages were below €100/MWh in all analyzed European electricity markets. The British and Italian markets had the highest averages, €87.14/MWh and €99.00/MWh, respectively. In contrast, the French market registered the lowest weekly average, €21.01/MWh. In the rest of the analyzed markets, prices ranged from €34.31/MWh in the Nordic market to €63.96/MWh in the German market.
Regarding hourly prices, most analyzed European markets registered negative prices on June 15 and 16. The exceptions were the Italian and British markets, which did not have negative prices in the second week of June. In addition to the weekend, the French market registered a negative price on June 10, from 16:00 to 17:00. On the other hand, the Belgian and French markets registered the lowest hourly price of the second week of June, €80.02/MWh, on Saturday, June 15, from 14:00 to 15:00. In the case of the Portuguese and Spanish markets, on Sunday, June 16, these markets registered a price of €2.00/MWh for two and six hours, respectively. This was the lowest hourly price in the history of these markets.
Regarding daily prices, on Saturday, June 15, the French market reached a daily price of €5.76/MWh. This was the lowest price since the end of May 2020 in this market.
During the week of June 10, the increase in wind energy production in most analyzed markets had a downward influence on European electricity market prices. In addition, demand fell in some markets such as Belgium, France, Spain and Portugal. The increase in solar energy production in the Iberian Peninsula also contributed to the fall in prices in the MIBEL market.
AleaSoft Energy Forecasting’s price forecasts indicate that prices in most analyzed European electricity markets might rise again in the third week of June, influenced by the decline in wind energy production. However, prices might continue to fall in the MIBEL market, favored by the increase in solar energy production in Spain.
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