
Heatwave and Low Winds Push Dutch Power Prices Higher
Short term:
Dutch power prices rose this week to 81.61 €/MWh, up 40% from last week . Strong solar generation — in line with the climate average for the Netherlands and above climate average in Germany — was not enough to offset weak wind output and high temperatures across Western Europe. Heat levels reached 30–33 °C in the Netherlands and Germany, lifting cooling demand, while parts of France saw temperatures reaching above 40 °C, forcing nuclear reactor curtailments at sites (like Tricastin 3+, St. Laurent 1+ and many more ) due to overheated river water. Additionally, Gravelines 2, 3,4 and 6 also had an unexpected outage after the filter drums of their pumping stations became packed with a massive and unpredictable swarm of jellyfish. The resulting market tightness pushed evening peak prices above 200 €/MWh on two consecutive days for Netherlands, with a peak of 275 €/MWh at hour 20 on 14 August, 2025. Despite conditions resembling early July, when Dutch prices spiked to 517.57 €/MWh, the latest surge was capped by fewer outages and lower demand due to the August holiday period.
Electricity (€/MWh)
Gas (€/MWh)
Long term:
The Dutch power price contract for CAL -26 dropped further by 3.0 €/MWh to 81.0 €/MWh , this was mainly driven by a drop in the Coal price , TTF prices and EUA prices. The Coal price dropped by 3.3 €/ton to 88.4 €/ton, whereas the EUA price dropped by 2.6 €/ton, to 72.6 €/ton. The TTF contract for CAL-26 also dropped by 1.3 €/MWh to 31.2 €/MWh . The drop in TTF price was mainly driven by easing geopolitical tensions ahead of a high profile Trump–Putin summit that raised hopes for a Ukraine ceasefire. Adding to this bearish sentiments were raising macroeconomic concerns—especially around tariffs and a slowdown in global trade—further dampened expectations for fuel demand growth.
Base (€/MWh)
Peak (€/MWh)
Gas (€/MWh)
CO2 (€/MWh)
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