Weekly average electricity prices fell across most major European markets during the third week of September, while Italy was the only market to record an increase. Great Britain saw the steepest weekly decline at 23%, followed by the Nordic market at 22% and Belgium at 19%. Prices dropped by 17% in both the Netherlands and Germany and by 14% in France.
Weekly averages and range across major markets
Portugal and Spain recorded more moderate weekly decreases of 3.8% each, while Italy’s market rose by 2.5%. Despite the declines, average electricity prices stayed above €130/MWh in most European markets. The Nordic market was the exception, posting the lowest weekly average at €81.46/MWh.
Italy recorded the highest weekly average at €215.82/MWh, followed by Belgium at €141.42/MWh and the Netherlands at €139.11/MWh. In other markets analyzed by AleaSoft Energy Forecasting, weekly averages ranged from €131.75/MWh in France to €135.25/MWh in Germany.
High levels early in the week and record daily averages
At the start of the week, electricity prices were particularly high across several major European markets, exceeding €200/MWh in Germany, France, Italy, Great Britain, Belgium and the Netherlands. On September 14, Germany recorded the highest daily average among the analyzed markets at €256.55/MWh. Belgium and the Netherlands also exceeded €229/MWh.
France, Portugal, Spain and the Nordic market reached their highest daily averages since December 2022. Germany and the Netherlands recorded their highest levels since December 2024, while Great Britain reached its highest price since January 2025. Italy kept prices above €200/MWh from Monday through Saturday.
Drops after September 19 and drivers behind Italy’s move
Prices fell sharply from September 19 onward across most markets. Great Britain recorded a daily average of €31.24/MWh on September 19, while the Nordic market reached €9.71/MWh. On September 20, Germany posted €21.75/MWh, and the Nordic market fell further to €8.59/MWh, the lowest level of the week among the analyzed markets.
The decline was supported by higher wind generation and lower electricity demand in some markets. Italy followed a different trend as lower wind generation coincided with elevated gas prices and higher CO₂ allowance prices, contributing to higher electricity prices.
AleaSoft expectations for the week beginning September 21
For the week beginning September 21, AleaSoft Energy Forecasting expects electricity prices to increase in most of the analyzed European markets, mainly due to lower wind power generation. Italy is expected to move in the opposite direction, with prices forecast to decline as wind generation increases.
AleaSoft also said gas price developments are expected to remain an important factor influencing European electricity prices during the fourth week of September.