Image: AleaSoft Energy Forecasting

Electricity prices increased in all major European markets in the third week of July, according to AleaSoft Energy Forecasting. The consultancy said prices were driven upwards by a slight increase in weekly average gas prices and a decline in wind generation.

The Nordic market registered the largest percentage jump from the week prior, at 11%, while the Italian market recorded the smallest increase, at 2.2%. Weekly price increases were also registered in the Belgian, British, Dutch, French, German, Portuguese and Spanish markets.

Weekly averages were below €75 ($81.31)/MWh in all analyzed markets except the British and Italian markets, which recorded averages of €88.55/MWh and €115.27/MWh, respectively. The Nordic market registered the lowest weekly average, at €24.63/MWh.

All analyzed markets, bar the British, Italian and Nordic markets, recorded negative electricity prices during the third week of July. The lowest hourly price of the week was recorded in the German market, at -€11.48/MWh, on July 16.

AleaSoft Energy Forecasting said electricity prices will be similar in the fourth week of July – increasing in some markets and decreasing in others. Last week, solar energy production increased week on week in Germany, France and Portugal, by 9.3%, 5.8% and 2.9%, respectively, while generation fell in Spain and Italy by 5.2% and 0.9%, respectively.

Portugal broke its all-time record for solar energy production for the second straight week, recording 23 GWh on July 16. France registered its highest daily production for a day in July, with 127 GWh on July 18.

AleaSoft Energy Forecasting said it expects solar generation to increase in Germany, Italy and Spain during the fourth week of July.