Analysis by AleaSoft Energy Forecasting finds the weekly average electricity price was above €110 ($128.35)/MWh across major European markets last week as TTF gas futures prices reached their highest level since January 2023.
The weekly average electricity price increased across most major European markets last week as TTF gas futures prices reached their highest level since January 2023, according to analysis by AleaSoft Energy Forecasting.
The Spanish consultancy recorded an increase in the weekly average electricity price across the British, Belgian, Dutch, French, German and Nordic markets last week, while the average price fell in the Italian, Spanish and Portuguese markets.
Weekly averages stood above €110 ($128.35)/MWh across all analyzed markets. The Italian market had the highest weekly average, of €168.31/MWh, followed by the British market, at €163.97/MWh. The Nordic market had the lowest average of the week, at €111.76/MWh.
AleaSoft attributes the upward trend in electricity prices last week to TTF gas futures prices reaching a weekly maximum settlement of €65.86/MWh, for the highest price recorded since Jan. 23, 2023.
