Electricity prices in Europe increased in May in most countries

In particular, electricity cost was affected by the increase in the price of gas and carbon emissions

In the EU, the average monthly wholesale day-ahead prices in May 2024 were higher in most countries than in April, except for France and Sweden.

According to Ember, they amounted to:

• Italy – €94.9/MWh (+9.4% m/m);
• France – €27.09/MWh (-4%);
• Germany – €67.3/MWh (+7.8%);
• Spain – €30.3/MWh (+ 2.2 times);
• Sweden – €23.04/MWh (-52.3%).

According to the forecasts of The European Energy Exchange (EEX), the Central European exchange for electricity and related products, the basic settlement price of electricity futures on the German market in July 2024 will be €83.86/MWh, on the French market – €43.38/MWh, on the Spanish market – €73.5/MWh, on the Italian market – €114.5/MWh.