AleaSoft Energy Forecasting, April 1, 2025. In the first quarter of 2025, prices rose in most major European electricity markets. In several markets, the quarterly average price was the highest since the second quarter of 2023. One of the main drivers of this rise was the increase in gas prices, whose quarterly average was also the highest since that date. Rising CO2 prices and electricity demand also contributed to the upward price evolution. Solar photovoltaic energy registered record generation levels for a first quarter in the main European markets, while wind energy production declined year on year.
In the first quarter of 2025, the quarterly average price exceeded €85/MWh in most major European electricity markets.
In the EPEX SPOT market of Germany, Belgium, France and the Netherlands, the N2EX market of the United Kingdom and the IPEX market of Italy, the average market price in the first quarter of 2025 was the highest since the second quarter of 2023. For the Nord Pool market of the Nordic countries, the average in the first quarter of 2025 was the highest since the second quarter of 2024.
The MIBEL market of Spain and Portugal was the only major European market where prices in the first quarter of 2025 decreased compared to the previous quarter.
Source: Prepared by AleaSoft Energy Forecasting using data from OMIE, EPEX SPOT, Nord Pool and GME.
Solar photovoltaic energy production reached record generation levels for a first quarter in the main European markets.
Wind energy production registered a year on year decline in the first quarter of 2025 in the main European markets.
Electricity demand increased in the main European markets in the first quarter of 2025. Portugal reached the highest value ever, while Germany, France and Great Britain registered their highest levels since the first quarter of 2022.
The average settlement price of TTF gas futures in the ICE market for the Front Month traded during the first quarter of 2025 was the highest since the second quarter of 2023.
The quarterly price of CO2 emission allowance futures in the EEX market for the reference contract of December 2025 was above the previous quarter.
Brent oil futures for the Front Month in the ICE market registered a higher quarterly average price than that reached in the last quarter of 2024.
