According to data from energy analytics firm Ember, electricity prices in the European Union (EU) fell in September 2024 compared to August. While prices fell in many countries in September, they rose in some regions.
In Italy, electricity prices decreased by 8.8% compared to the previous month, reaching €117.08/MWh. In France, prices decreased by 5.4% to €51.61/MWh. Germany saw a 4.8% decrease, with prices reaching €78.06/MWh, while Spain experienced a notable 20.4% drop to €72.54/MWh. Conversely, electricity prices in Sweden increased by 20.2% to €15.49/MWh.
In most European markets, excluding the United Kingdom and Italy, weekly averages were recorded below €70/MWh. The Scandinavian region saw the lowest average at €19.11/MWh in the last week of September.
In the third quarter, the overall price increases in the European electricity market were attributed to high gas prices, increased demand due to rising temperatures, and a decline in wind energy production.
The EU plans to, steps are expected to be taken within the framework of the EU's energy policies and regulations to reduce fluctuations in electricity prices and strengthen market integration. This aims to eventually balance price differences between member states.
In conclusion, price movements in the European electricity market continue to be shaped by rising energy costs, changing demand patterns, and regional variations. Fluctuations in renewable energy production and ensuring supply-demand balance will remain key issues for the sector in the coming period. Regulations and initiatives in the EU's energy policies will contribute to the creation of a more stable and integrated electricity market structure across Europe.
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