According to the latest analysis by AleaSoft Energy Forecasting, most major European electricity markets experienced negative prices during the fourth week of March, with Portugal and Spain registering record lows on March 30.
On that day, electricity prices turned negative in Belgium, France, and the UK, while Germany and the Netherlands recorded similar trends two days earlier, on March 28. The Iberian markets were hit hardest: Portugal experienced negative pricing on three separate days, while Spain faced five consecutive days of sub-zero prices. The lowest hourly prices ever recorded in both countries occurred on March 30, with Spain hitting -€5.21/MWh ($-5.74) between 14:00 and 15:00, and Portugal reaching -€4.00/MWh between 11:00 and 12:00.
These negative prices contributed to weekly average electricity prices falling below €95/MWh across most European markets. Italy remained an outlier, with a weekly average of €119.27/MWh, while the Nordic region maintained the lowest average at €24.96/MWh.
Compared to the previous week, average prices increased in Belgium, the Netherlands, France, and Germany, but declined in the UK, Italy, the Nordic region, Portugal, and Spain.
AleaSoft attributes the downward price pressure to lower demand, declining gas and CO2 emission allowance prices, and a surge in solar generation in parts of Southern Europe. Conversely, reduced wind generation in some regions drove prices up.
Looking ahead to the first week of April, AleaSoft forecasts a mixed outlook: prices are expected to fall in France and Germany, but rise in Portugal and Spain. Solar energy production is projected to increase in Germany, while decreasing in Italy and Spain.
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