European power prices move higher as temperatures drop

In the third week of January, prices of most European electricity markets increased compared to the previous week due to the increase in demand associated with the drop in temperatures. However, in the Spanish, Portuguese and Italian markets, where the wind energy production increased, price declines were registered. On the other hand, TTF gas futures reached a settlement price of €55.45/MWh on Monday, January 16, the lowest since September 2021.