AleaSoft Energy Forecasting, June 3, 2025. In May, prices in the main European electricity markets reached their lowest levels since at least November. The Spanish market registered the lowest monthly average. Solar photovoltaic energy production set all‑time records in Germany, Italy, France and Portugal, while wind energy production grew year‑on‑year in several markets. Electricity demand fell, CO2 prices declined and gas prices were around those of April.
In May 2025, the EPEX SPOT market of France registered its lowest monthly price since June 2020. The MIBEL market of Spain and Portugal, the IPEX market of Italy and the EPEX SPOT market of the Netherlands reached their lowest averages since May 2024. In the case of Germany and Belgium, prices were the lowest since June and August 2024, respectively. Meanwhile, the N2EX market of the United Kingdom and the Nord Pool market of the Nordic countries were at their lowest levels since September and November 2024.
The monthly average price was below €70/MWh in most major European electricity markets.
Source: Prepared by AleaSoft Energy Forecasting using data from OMIE, EPEX SPOT, Nord Pool and GME.Solar photovoltaic energy set all‑time monthly production records in Germany, Italy, France and Portugal.
Wind energy production increased year‑on‑year in several major European markets, but it decreased compared to April in most of them.
Electricity demand fell in most major European markets, both compared to the same period last year and compared to April 2025.
The average of TTF gas futures in the ICE market for the Front‑Month was €35.30/MWh, a similar value to that registered in April.
The monthly price of CO2 emission allowance futures in the EEX market for the reference contract of December 2025 increased from that registered in April.
Brent oil futures for the Front‑Month in the ICE market registered the lowest monthly average since March 2021.
