In the first days of December, several European markets reached the highest daily or hourly prices in 2020.
This behaviour was favoured mainly by the increase in electricity demand as a result of the decrease in temperatures.
The CO2 prices continued to rise and exceeded €29/t, something that did not happen since September. The electricity futures prices also rose in almost a generalised way.
The EPEX SPOT electricity markets of Germany, Belgium, France and the Netherlands, as well as the IPEX market of Italy reached the highest daily price of 2020 on Wednesday, December 2, taking into account the markets data up to December 3. That day, the prices of these markets were higher than €72/MWh and at least one hour exceeded €100/MWh.
Other European electricity markets also reached record prices during the first days of December. In the MIBEL market of Spain, at the hour 9 of December 3, the highest hourly price of the year so far, of €62.57/MWh, was registered. In the case of MIBEL Portugal, the price for the hour 10 of that same day, of €61.77/MWh, was the second highest in 2020.
The Nord Pool market of the Nordic countries, although it has the lowest prices of the electricity markets of the continent, also registered records in the first week of December. In this case, the price of the hour 18 of December 1, with a value of €43.73/MWh, was the highest of the year.
During the first four days of the week of November 30, the average price of all European electricity markets increased compared to the average of those of the same days of the previous week. In that period the average price of most markets exceeded €50/MWh, except in the Nord Pool market that was below €20/MWh, but still registered an increase of 214%.
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