According to Ember data obtained from GMK Center, the European region's average monthly wholesale daily pre-sales prices in November 2024 increased significantly compared to the previous month.
European electricity market prices increased at different rates from country to country last November. In Italy, prices increased by 12.2% to EUR 130.93/MWh, while in Germany they increased by 33% to EUR 111.61/MWh. In Spain, an increase of 1.5 times to EUR 104.48/MWh. In France, prices increased 1.6 times to EUR 100.55/MWh. In Sweden, a 2.7 times increase brought prices to EUR 53.04/MWh.
The European Energy Exchange (EEX) published the new futures costs as of December 6. They are projected at 110.88 euro/MWh in Germany, 133.35 euro/MWh in France, 92.7 euro/MWh in Spain, and 133.35 euro/MWh in Italy.
The cost of energy is reportedly at the center of the debate on Europe's industrial future. The steel industry is urging policymakers with initiatives to provide energy subsidies and competitive electricity prices. According to LSEG data, wholesale electricity prices in Germany, France, the Netherlands, Spain, and Poland reached their highest levels in 20 months in November, affecting industries in Europe's key economies.
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