AleaSoft Energy Forecasting, January 7, 2026. In 2025, prices in the main European electricity markets rose until February, fell in spring and stabilised in the second half of the year, with an annual average price above €60/MWh in most markets. Prices increased compared to 2024 due to higher gas and CO₂ prices, as well as rising demand and lower wind energy production in some markets. Even so, 2025 prices were the second lowest since 2021. Photovoltaic energy production reached record levels in the main European markets, as did wind energy production in France.
In 2025, prices in most major European electricity markets rose until February, then fell during the spring. In June, prices began to recover, stabilising during the second half of the year in most markets.
The annual average price was above €60/MWh in most major European electricity markets.
Prices were higher than in 2024, driven by rising gas and CO₂ prices, as well as increased demand and lower wind energy production in some markets.
Despite these increases, 2025 prices were the second lowest since 2021.
Source: Prepared by AleaSoft Energy Forecasting using data from OMIE, EPEX SPOT, Nord Pool and GME.Solar photovoltaic energy production in 2025 was the highest on record in the main European markets.
Wind energy production in 2025 was the highest on record in the French market, but declined in the rest of the main European markets.
Electricity demand in 2025 was higher than in 2024 in some of the main European electricity markets, and lower in others. This lack of uniformity contrasts with the upward trend observed between 2023 and 2024.
In 2025, TTF gas futures for the Front‑Month in the ICE market rose until February, when they reached their highest monthly level since 2023, and then declined. The annual average price was higher than in 2024.
CO₂ emission allowance futures prices in the EEX market for the reference contract of December 2026 increased particularly during the second half of 2025.
Settlement prices of Brent oil futures for the Front‑Month in the ICE market followed a mostly downward trend. The 2025 average price was the lowest since 2021.
