AleaSoft Energy Forecasting, August 4, 2026. In July 2026, monthly prices rose in most of the main European electricity markets. The rise in gas prices and CO2 emission rights prices, the increase in demand and lower wind energy production in several markets drove this trend. Solar photovoltaic energy production reached record highs in Germany, Spain, France, Italy and Portugal. Demand also marked record highs in some markets and reached its highest levels in years in others.
In July 2026, monthly average prices rose in most of the main European electricity markets. The Italian market registered the highest price, followed by the British market. In contrast, the Nordic market presented the lowest average.
Compared with June 2026, prices rose in most European electricity markets. The Portuguese and Spanish markets registered the largest percentage increases. In contrast, prices fell in the Nordic, Dutch, German and Belgian markets.
Compared with July 2025, prices rose in all markets. The French and Nordic markets registered the largest year-on-year increases. Italy reached its highest monthly average since March 2023, while Great Britain, Spain and Portugal registered their highest prices since March 2025.
Source: Prepared by AleaSoft Energy Forecasting with data from OMIE, RTE, Nord Pool and GME.The photovoltaic energy production increased compared with June and year-on-year in Germany, Spain, France, Italy and Portugal and reached record monthly highs.
The wind energy production increased year-on-year in Germany and France, while it decreased in Portugal, Italy and Spain. Germany, France and Italy registered their second highest value for a month of July and Portugal reached its lowest since 2018.
The electricity demand increased year-on-year in most European markets. Spain and Portugal reached record highs for a month of July and Italy registered its highest monthly value in the last 26 years.
The TTF gas futures for the Front‑Month on the ICE market reached an average of €53.99/MWh, 20% more than in June and the highest value since February 2023. The attack on the Al-Rekayyat LNG tanker and low European reserve levels drove up prices.
The CO₂ emission rights futures on the EEX market for December 2026 reached an average of €81.26/t, 2.8% more than in June and 12% more than in July 2025.
The Brent oil futures for the Front‑Month on the ICE market registered an average of $83.97/bbl, 0.5% less than in June. Progress in negotiations between the United States and Iran and the announcement of an OPEC+ production increase favoured the decrease.
