In the week of January 19, electricity prices rose in most major European markets compared to the previous week, particularly during the early days. The Nord Pool market of the Nordic countries recorded the largest percentage increase at 28%, while the N2EX market in the United Kingdom registered the smallest rise, 2.2%. In the EPEX SPOT markets of Belgium, the Netherlands, and Germany, increases ranged from 6.2% in Belgium to 12% in Germany. Exceptions included the EPEX SPOT market of France and the MIBEL market of Spain and Portugal, which saw declines of 0.5%, 42%, and 43%, respectively.
During this period, weekly average prices exceeded €100/MWh in most European markets. The Iberian market was an exception, with averages of €63.44/MWh in Portugal and €63.58/MWh in Spain. The Italian market recorded the highest weekly average at €147.72/MWh, while other markets analyzed by AleaSoft Energy Forecasting ranged from €102.75/MWh in France to €121.80/MWh in Germany.
Regarding daily price evolution, on Sunday, January 25, the Iberian market recorded the lowest daily average of the week at €11.25/MWh, marking its lowest price since May 25, 2025. Except for France, Spain, and Portugal, most other markets maintained daily prices above €100/MWh in almost all sessions of the fourth week of January. The Italian market registered the highest daily average among analyzed markets, €159.29/MWh, on Thursday, January 22.
The sharp increase in wind energy production in Spain and Portugal helped reduce prices in the Iberian market during this week. Conversely, higher gas prices, along with lower wind production and higher electricity demand, drove price increases in most other analyzed markets.
According to AleaSoft Energy Forecasting, in the last week of January, prices are expected to decline in Germany, Italy, and the Iberian markets due to higher wind generation and lower demand, while prices will increase in France, Belgium, and the Netherlands, AleaSoft reports.