The weekly average electricity price stood in excess of €115 ($131.08)/MWh across most major European markets last week after much of the continent dealt with a heatwave, AleaSoft says.
A heatwave across Europe drove up electricity demand last week, in turn pushing weekly average electricity prices higher, according to the latest analysis by AleaSoft Energy Forecasting.
The Spanish consultancy noted an increase in the weekly average electricity prices across the Belgian, British, Dutch, French, German, Nordic, Italian, Portuguese and Spanish markets when compared to the week prior.
Weekly averages exceeded €115 ($131.08)/MWh in all markets except the Nordic market, which recorded an average of €68.24/MWh, and the Portuguese and Spanish markets, which both registered an average of €87.37/MWh.
The highest average of the week was in the Belgian market, at €148.34/MWh, followed by the Italian market, at €114.67/MWh.
