Weekly averages during the week of December 22 were below €85/MWh in most markets. Exceptions were the UK (€91.33/MWh) and the Italian IPEX market (€108.41/MWh). The Nordic market recorded the lowest weekly average at €38.34/MWh, while other markets ranged between €69.41/MWh in France and €83.02/MWh in Germany.
Regarding daily prices, on Thursday, December 25, the Nordic market reached the lowest daily average of the week at €11.80/MWh, its lowest since November 5. On December 24, Belgium recorded €60.83/MWh, the lowest since November 5, and Germany €69.38/MWh, its lowest since November 2. In Italy, on December 27, the price fell to €102.89/MWh, the lowest daily level since October 27.
Italy was the only market with daily prices above €100/MWh during the week. The highest daily average was €113.77/MWh on Monday, December 22.
The increase in wind and solar production, combined with lower electricity demand, contributed to the price declines across Europe. Looking ahead, AleaSoft Energy Forecasting expects prices to rise in most major markets in the first week of January, driven by higher demand and lower wind production. However, continued increases in wind generation in Germany and Italy could help prices remain low in these markets, AleaSoft reports.