Third-week September declines across major markets
Weekly average electricity prices declined across most major European markets during the third week of September, while Italy was the only market to record an increase. Great Britain saw the largest weekly drop at 23%, followed by the Nordic market at 22% and Belgium at 19%. Prices decreased by 17% in both the Netherlands and Germany and fell by 14% in France. Portugal and Spain recorded declines of 3.8% each, while Italy rose by 2.5%.
Weekly averages stay above €130/MWh in most markets
Despite the weekly declines, average electricity prices remained above €130/MWh in most European markets. The Nordic market was the exception, posting the lowest weekly average at €81.46/MWh. Italy recorded the highest weekly average at €215.82/MWh, followed by Belgium at €141.42/MWh and the Netherlands at €139.11/MWh. In other markets analyzed by AleaSoft Energy Forecasting, weekly averages ranged from €131.75/MWh in France to €135.25/MWh in Germany.
Early-week price levels exceed €200/MWh
Electricity prices were particularly high at the start of the week, exceeding €200/MWh in Germany, France, Italy, Great Britain, Belgium and the Netherlands. On September 14, Germany registered the highest daily average among the analyzed markets at €256.55/MWh. Belgium and the Netherlands also traded above €229/MWh on that day. France, Portugal, Spain and the Nordic market reached their highest daily averages since December 2022.
Sharp fall after September 19; drivers differ by Italy
From September 19 onward, prices fell sharply across most markets. Great Britain recorded a daily average of €31.24/MWh on September 19, while the Nordic market reached €9.71/MWh. On September 20, Germany posted €21.75/MWh and the Nordic market fell further to €8.59/MWh, the lowest level of the week among the analyzed markets. The decline was supported by higher wind generation and lower electricity demand in some markets.
Italy moved differently over the same period, with lower wind generation alongside elevated gas and CO₂ allowance prices contributing to higher electricity prices. Italy maintained prices above €200/MWh from Monday through Saturday. AleaSoft Energy Forecasting data also shows that Great Britain’s peak levels occurred later in the week cycle, with its highest price since January 2025 during this period.
Outlook for week beginning September 21
For the week beginning September 21, AleaSoft Energy Forecasting expects electricity prices to rise in most analyzed European markets, mainly due to lower wind power generation. Italy is expected to move in the opposite direction, with prices forecast to decline as wind generation increases. Gas price developments are also expected to remain an important factor influencing European electricity prices during the fourth week of September.