Electricity prices moved higher in the first days of the fourth week of June across major European power markets. Prices later eased, but weekly averages still rose versus the previous period in all markets covered. The smallest weekly increase was recorded in Portugal at 2.1%, while France posted the largest rise at 39%. Among the other markets tracked, growth ranged from 5.1% in Spain to 37% in Belgium.
June 22 week: weekly averages above €115/MWh in most markets
During the week of June 22, weekly average prices stayed above €115/MWh in most European markets. The lowest average was in the Nordic region at €68.24/MWh, followed by Spain and Portugal at €87.37/MWh. Belgium led the upper end with €148.34/MWh. Other markets fell between €115.75/MWh in France and €144.67/MWh in Italy.
Divergent daily pricing across regions
Daily price movements diverged across the week, with the Nordic market remaining below €100/MWh. Spain and Portugal stayed under that level for most of the period, except on June 23. The lowest daily price was recorded in the Nordics on June 22 at €35.29/MWh. Italy, by contrast, remained above €120/MWh throughout the week.
Several markets exceeded €120/MWh on multiple days, including Germany, Belgium, Great Britain and the Netherlands. France crossed above the threshold on three occasions during the same week. These patterns corresponded to a pricing environment that remained elevated across multiple regions even as some markets stayed below key levels for extended stretches.
Mid-week spikes: highest levels recorded across several countries
The sharpest moves occurred mid-week, with Belgium reaching a weekly high of €257.55/MWh on June 24. That level was Belgium’s highest since December 2024. On June 24, the Netherlands also posted a multi-month peak at €227.99/MWh. France and Great Britain recorded their highest prices since early 2025 at €157.87/MWh and €184.65/MWh, respectively.
Germany climbed to €207.84/MWh, its highest since November 2025, while Italy reached €162.66/MWh, its strongest point since March 2026. Spain and Portugal peaked earlier on June 23 at €112.42/MWh. These peaks were concentrated around mid-week trading sessions.
Demand and renewable output changes cited as key drivers
The price increases were linked to higher electricity demand across Europe alongside weaker generation from wind and solar sources. Lower wind output in Germany and Italy coincided with reduced solar generation in Spain, Italy and Portugal. Together, these supply-side constraints intensified price pressure during peak demand hours.
AleaSoft outlook for early July: lower prices expected
AleaSoft Energy Forecasting expects lower electricity prices across European markets for the first week of July. The forecast is supported by stronger wind generation and reduced demand in most regions. An expected increase in solar output in Italy may also contribute to easing prices.
AleaSoft also noted that gas market trends remain an uncertainty for the overall direction of electricity prices during the period.