AleaSoft notes downturn in European electricity prices
AI Analysis
Summary
AleaSoft Energy Forecasting’s latest analysis says a decline in gas prices contributed to the weekly average electricity price decreasing across most major European markets last week, despite solar energy production also falling week-on-week in some countries.
<p class="p1"><span class="s1">AleaSoft Energy Forecasting’s latest analysis says a decline in gas prices contributed to the weekly average electricity price decreasing across most major European markets last week, despite solar energy production also falling week-on-week in some countries.</span></p><p><span style="font-weight: 400;">Electricity prices fell across most major European markets during the second week of November, according to analysis by AleaSoft Energy Forecasting.</span></p>
<p><span style="font-weight: 400;">When compared to the week prior, the Spanish consultancy recorded a drop in the weekly average electricity price in the Belgian, British, Dutch, French, German, Portuguese and Spanish markets. The exceptions were the Italian and Nordic markets, where the weekly average price increased by 3.6% and 6.1% respectively.</span></p>
<p><span style="font-weight: 400;">As a result of the downward trend, weekly averages were below €85 ($97.80)/MWh across all markets bar the Dutch (€85.74/MWh), German (€93.69/MWh) and Italian (€115.19/MWh) markets. The French market had the lowest average of the week, at €31.28/MWh.</span></p>
<p><span style="font-weight: 400;">AleaSoft says an increase in wind energy production and a decline in gas prices contributed to the lower averages across most markets last week. In Belgium and France, electricity demand also decreased, while in Italy, demand increased and wind energy fell, leading to the price hike.</span></p>
<p><span style="font-weight: 400;">The week commencing November 17 is expected to bring an increase in the weekly average electricity price to most markets, AleaSoft predicts, driven by increased electricity demand in most cases.</span></p>
<p><span style="font-weight: 400;">AleaSoft also found solar energy production decreased last week across France, Germany, Italy, Portugal and Spain. Portugal recorded the largest week-on-week decline, at 45%, while Italy saw the smallest drop, at 11%.</span></p>
<p><span style="font-weight: 400;">The consultancy is expecting this current week to bring an increase in solar energy production in Spain, but further decreases in Germany and Italy.</span></p>