A mixed bag for power prices – week 37

The week of September 7, the prices of most of the European electricity markets fell. However, in the EPEX SPOT market of France, the MIBEL market of Spain and Portugal and the IPEX market of Italy there were increases of 1.3%, 1.9%, 2.0% and 4.3% respectively. On the other hand, the market with the largest price drop, of 25%, was the Nord Pool market of the Nordic countries, followed by the EPEX SPOT market of Germany, with a decrease of 12%. In the rest of the markets, the price decreases were between 4.8% of the Belgian market and 8.8% of the EPEX SPOT market of the Netherlands.

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The second week of September, most electricity markets reached weekly averages above €40/MWh. The highest, of €48.00/MWh, was that of the Italian market. In contrast, the Nord Pool market and the EPEX SPOT market of Germany and the Netherlands had average prices of €16.94/MWh, €37.85/MWh and €39.22/MWh respectively. The rest of the markets had average prices between €41.76/MWh of the Belgian market and €45.69/MWh of the French market.

During the week of September 7, daily prices above €50/MWh were reached in the markets of France and Italy. The highest daily price of the week, of €56.83/MWh, was that of Friday, September 11, in the Italian market. On the other hand, the lowest price, of €10.84/MWh, was reached on Sunday, September 13, in the Nord Pool market. That day there were also prices below €30/MWh in the markets of Germany, the Netherlands and Belgium, with values of €20.19/MWh, €25.48/MWh and €28.31/MWh respectively.

During the second week of September, the European markets prices were loosely coupled. But the third week of September began with a greater coupling among most markets, whose prices exceeded €50/MWh on Monday, September 14. The exceptions were the MIBEL market of Spain and Portugal and the Nord Pool market, which had lower prices.

As for the hourly prices, on September 12 and 13, negative hourly prices were reached in the German market. The lowest hourly price, of ‑€58.80/MWh, was that of the hour 14 of Sunday, September 13. This is the lowest hourly price in the German market since the beginning of July.

Source: Prepared by AleaSoft using data from OMIE, EPEX SPOT, N2EX, IPEX and Nord Pool.

During the second week of September, the increase in wind and solar energy production allowed the prices to fall in some markets, such as the German. However, in France, Spain, Portugal and Italy, the increase in demand and the decrease in solar energy production favoured the increase in prices.

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