Electricity costs in Europe fluctuated in October

According to data from energy analyser Ember, European region's electricity costs in October varied depending on the volume of renewable energy production, changes in demand, current gas costs, and carbon emissions. Weekly decreases in electricity costs recorded in the second half of October.

European electricity market costs varied across countries during October. In Italy, costs decreased slightly to €116.72/MWh, whereas in Germany an increase of 6.9% to €83.98/MWh is recorded. In Spain, costs decreased by 5.6 % to €68.49/MWh. In France, costs increased by 20.6% to €65.25/MWh, while in Sweden, costs increased by 27% to €15.49/MWh.

The European Energy Exchange (EEX) published new electricity costs for the main European electricity markets at the beginning of November. They are estimated at €89.42/MWh in Germany, €79.5/MWh in France, €77.7/MWh in Spain and €116.53/MWh in Italy.

European steelmakers shifting to low-carbon production and electric arc furnaces, while electricity requirements, competitive costs, and raw material availability affect global competition. EUROFER estimated that the European steel sector currently consumes 75 TWh of electricity per year, expected to increase to 160 TWh in 2030.