In the third week of March, average electricity prices fell in most major European electricity markets compared to the previous week. The exception was Italy’s IPEX market, which saw a 5.0% price increase. The Nordic Nord Pool market and Spain and Portugal’s MIBEL market recorded the largest percentage price declines of 53%, 56%, and 57%, respectively. In other markets analyzed by AleaSoft Energy Forecasting, price drops ranged from 5.8% in the UK’s N2EX market to 43% in France’s EPEX SPOT market.
During the week of March 17, weekly average electricity prices remained below €85/MWh in most European markets. The exceptions were the UK (€107.21/MWh) and Italy (€123.25/MWh). The Nordic market had the lowest weekly average at €29.68/MWh, while prices in other markets ranged from €33.96/MWh in Portugal to €80.17/MWh in the Netherlands.
In terms of daily prices, on Saturday, March 22, the Nordic market reached €2.25/MWh, marking the lowest price of the week and the lowest recorded price in this market since September 11, 2024. On March 21, Portugal’s market hit €10.69/MWh, the lowest since June 3, 2024, while Spain’s price of €10.75/MWh was the lowest since November 25, 2024. On March 22, Germany, Belgium, France, and the Netherlands recorded their lowest prices since January 2025.
The overall decline in electricity prices was driven by reduced electricity demand and increased wind energy production in most analyzed markets, along with rising solar energy production in some. However, in Italy, higher demand and a drop in wind energy production led to an increase in prices. This trend persisted despite an increase in the weekly cost of CO2 emission allowances, AleaSoft reports.