Prices decreasing in Europe, except in the Nordic countries (from 30 to 55 €/MWh) and in Italy (from 133 to 136 €/MWh). The Italian market is, once again, the most expensive. According to the Spanish consultancy firm, the gap compared to the second most expensive market, the British one, rises to 24%.
November 26, 2024 Sergio Matalucci
In the third week of November, average prices in most major European electricity markets fell compared to the previous week. The IPEX market of Italy and the Nord Pool market of the Nordic countries are exceptions, with increases of 2.2% and 82% respectively. This was reported by AleaSoft Energy Forecasting, explaining that Germany’s EPEX SPOT market recorded the largest percentage drop in prices, equal to 22%, while the UK’s N2EX market recorded the smallest drop, equal to 8.3%.
“In the third week of November, weekly averages exceeded €90/MWh in most analyzed European electricity markets. The exceptions are the Nordic and French markets, which recorded the lowest averages, respectively €54.58/MWh and €88.47/MWh. The Italian market reached the highest weekly average, 135.78 €/MWh. In the rest of the markets analyzed, prices ranged from €93.14/MWh in the Spanish market to €109.34/MWh in the British market,” the Spanish consultancy wrote.
As for daily prices, on Sunday 24 November they were below €14/MWh in most of the markets analyzed, with the exception of the British and Italian markets. High wind energy production, coupled with lower demand on Sunday, led to these low prices in European electricity markets. That day, the German market recorded the lowest price, €3.97/MWh. This price was the lowest in Germany since May 13th. In the case of the Spanish and Portuguese markets, prices on Sunday were the lowest since June 3. The Belgian, French and Dutch markets recorded the lowest prices since July 7, while the British market reached the lowest price since August 26.
“In the week of November 18, despite the increase in demand and the increase in gas prices and CO2 emission quotas, the increase in wind energy production in most of the analyzed markets led to a drop in prices in European electricity markets. In the case of the German market, solar energy production also increased, contributing to the fact that this market experienced the largest percentage drop in prices.”
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**While renewable energy sources like wind power have shown potential to mitigate price fluctuations in the short term, what long-term policy and infrastructure investments are crucial to ensure their sustained impact on price stability and energy security in Europe?**
## World Today News Exclusive Interview: Navigating Europe’s Electricity Market Turbulence
**Welcome to World Today News, where we delve deep into the significant events shaping our world.**
Today, we’re joined by two distinguished guests to discuss the rollercoaster ride of electricity prices in Europe’s major markets. Joining us are:
* **Dr. Anna Petrova**, a leading energy economist specializing in European markets, and
* **Mr. Marco Bellini**, a senior energy analyst at a prominent renewable energy consulting firm.
Thank you both for being here.
**
Let’s begin by addressing the overarching trend highlighted in the article.
The “Electricity Price Rollercoaster”
>**Dr. Petrova, we see a mixed bag of trends in the third week of November:** price drops in most markets, yet significant hikes in Italy and the Nordic countries. How can we reconcile these divergent movements? What are the key factors driving these price fluctuations?
**
Focusing on the Sky-High Prices
>**Mr. Bellini, the Italian market emerges as the most expensive, again, with prices exceeding €135/MWh. What’s behind this persistent price gap compared to other European markets, and how does it impact Italian consumers and industries? **
> **Furthermore, scouring for solutions, are there any specific policy measures or market interventions that could help mitigate Italy’s high electricity prices?**
**
Renewable Energy’s Influence – A Silver Lining?
>**The article mentions a dramatic drop in prices across many markets on Sunday, November 24th, attributing this largely to high wind energy production. Dr. Petrova, can you elaborate on the role of renewable energy sources in shaping these short-term price fluctuations? How significant of an impact do these renewable sources have on stabilizing electricity prices in the long run?**
> **Looking towards the future, do you foresee renewable energy playing a more dominant role in shaping European electricity markets, potentially leading to greater price stability?**
**
Consumer Impact and the Path Ahead
>**Let’s shift gears slightly. Mr. Bellini, these evolving electricity prices undoubtedly impact consumers and businesses across Europe. What practical advice would you offer to individuals and businesses looking to navigate these volatile times?**
**
A Final Thought
> **To wrap up our discussion, what are your overall impressions of the current state of European electricity markets? Dr. Petrova, what are the major challenges and opportunities you see on the horizon, and what key developments should we be watching for in the coming months?**
We thank both Dr. Petrova and Mr. Bellini for their insightful analysis. Their expert perspectives shed light on the complexities of Europe’s dynamic electricity market and offer valuable insights for readers navigating this evolving landscape.
**Stay tuned for further coverage on World Today News as we continue to analyze the critical issues shaping our world.**
