AleaSoft Energy Forecasting, September 1, 2026. In August 2026, monthly prices rose in all the main European electricity markets. The increase in gas and CO2 emission allowance prices, together with the monthly decline in solar production and lower wind production in most markets, drove this trend. Even so, solar PV production reached record highs for an August in every market analysed, while Germany and France broke wind production records for the month.
In August 2026, average monthly prices rose in all the main European electricity markets. Italy registered the highest price, followed by Great Britain, while the Nordic market posted the lowest average.
Compared with July, prices rose in all the markets analysed. The Nordic market registered the largest increase, followed by the French market.
Compared with August 2025, prices also rose in all the markets. France and the Nordic market registered the largest year-on-year increases. Italy reached its highest average since January 2023, while Belgium, Great Britain, Spain, France and Portugal registered their highest prices since March 2023.
Source: Prepared by AleaSoft Energy Forecasting with data from OMIE, RTE, Nord Pool and GME.Solar PV production increased year-on-year in Germany, Spain, France, Italy and Portugal. Although it fell compared with July, it reached record highs for an August in all the markets analysed.
Wind production increased year-on-year in Germany and France, while it fell in Italy, Spain and Portugal. Germany and France reached record highs in wind production for an August.
Electricity demand increased year-on-year in most of the European markets. Italy and Portugal reached record highs for an August.
Futures for TTF gas for the Front Month on the ICE market reached an average of €62.14/MWh, 15% more than in July and 90% more than in August 2025. It was the highest average since February 2023. Low levels of European gas reserves and tensions in the Strait of Hormuz pushed up prices.
Futures for CO₂ emission allowances on the EEX market for December 2026 reached an average of €82.37/t, 1.4% more than in July and 12% more than in August 2025. The monthly average was the highest since February 2026.
Futures for Brent crude oil for the Front-Month contract on the ICE market registered an average of $88.08/bbl, 4.9% more than in July and 31% more than in August 2025. Tensions between the United States and Iran and disruptions to tanker traffic through the Strait of Hormuz favoured the price increase.
