Prices in the main European electricity markets rose in February 2025, in many cases reaching their highest level since March 2023. This rebound was driven by rising gas prices, which also marked their highest monthly average since that date. In addition, wind energy production fell, in some markets registering its lowest level for February in several years. In contrast, solar photovoltaic energy generation reached its historical maximum for February in the main European markets.
In February 2025, prices in most major European electricity markets increased both compared to January and on a year?on?year basis.
Monthly average prices exceeded €105/MWh in most of these markets.
The EPEX SPOT markets of Germany, Belgium, France and the Netherlands, together with the IPEX market of Italy, reached their highest levels since March 2023. Meanwhile, the Nord Pool market of the Nordic countries registered the highest monthly price since February 2024.
Source: Prepared by AleaSoft Energy Forecasting using data from OMIE, EPEX SPOT, Nord Pool and GME.
Solar photovoltaic energy production reached its historical maximum for a February month in the main European markets.
Wind energy production fell in the main European electricity markets both year?on?year and compared to January 2025. In Italy, production with this technology was the lowest for a February month since 2012, in Germany since 2018 and in Spain since 2019.
Electricity demand increased in most major European electricity markets compared to the same period in 2024, although it declined from January levels.
TTF gas futures in the ICE market for the Front?Month reached the highest monthly average since March 2023.
The average of CO2 emission allowance futures in the EEX market for the reference contract of December 2025 was lower than in January, but higher than in February 2024.
Brent oil futures for the Front?Month in the ICE market fell year?on?year and compared to January 2025.
