Electricity prices rose across most major European power markets during the first week of May, despite daily prices easing toward the end of the week. Weekly averages in that period stayed above the levels recorded on May 1 in most markets. The result was an overall upward shift in price levels compared with the previous week.
Iberia and France show contrasting percentage changes
The smallest increases were recorded in the Iberian markets, with Portugal up 4.9% and Spain up 6.6%. France posted the largest percentage increase at 494%, following earlier low levels. Other markets assessed by AleaSoft Energy Forecasting saw growth ranging from 13% in the United Kingdom to 82% in Germany and the Nordic region.
Weekly averages above €100/MWh across most markets
In the week of May 4, weekly average prices exceeded €100/MWh in most European markets. Portugal, Spain and France were exceptions, with averages of €58.88/MWh, €59.76/MWh and €73.95/MWh, respectively. Italy recorded the highest weekly average at €131.47/MWh, while other markets ranged from €100.68/MWh in the Nordics to €119.45/MWh in the UK.
Daily price extremes from May 10 to May 7
The lowest daily price among the analyzed markets was recorded in Portugal at €19.57/MWh on May 10, a Sunday. On the same day, Spain and France also fell below €25/MWh, at €20.84/MWh and €21.22/MWh. By contrast, most other markets stayed above €65/MWh throughout the week.
Sustained high-price conditions were reported in multiple markets. Italy and the UK recorded daily prices above €100/MWh for every day of the week, while Germany, Belgium and the Netherlands stayed above that level from Monday to Friday. France and the Nordic market also briefly moved above €100/MWh during selected trading sessions.
Highest daily prices and renewables-driven supply tightness
The highest daily price of the week was registered in Italy on May 6, reaching €146.46/MWh. On May 7, Portugal and Spain recorded their highest prices since mid-March at €86.48/MWh and €86.90/MWh. The Nordic market also rose on May 7 to €134.03/MWh, its highest level since February.
AleaSoft Energy Forecasting linked upward pressure during the first week of May to higher CO₂ emission allowance prices, lower wind generation across most markets, and increased electricity demand. Solar output declined in Germany and Italy, tightening supply conditions further. In contrast, stronger wind and solar production in the Iberian Peninsula helped limit price increases in Spain and Portugal.
AleaSoft outlook for second-week May pricing and gas as a driver
AleaSoft forecasts indicate electricity prices may decline during the second week of May. The expected support comes mainly from a recovery in wind generation across most European markets and a potential decrease in demand in selected regions. Gas price fluctuations are expected to remain a key factor shaping market behavior, AleaSoft said.