Heatwave in Europe leading to high demand and price spikes
Short term:
The Netherlands had high baseload prices, above 100 €/MWh, for three consecutive days in Week 27 from Monday to Wednesday. The baseload average price for the entire week was 93.3 €/MWh compared to 68.1 €/MWh in Week 26. This can mainly be attributed to a heat wave over central western Europe (CWE). High temperatures drive up air conditioning requirements increasing the electricity demand. Moreover, the maximum capacity of power plants is reduced due to heat. In combination to this, many power plants in the Netherlands and Belgium (such as the Maasvlakte 3, Eemshaven A & B, Amer 9, Doel 4, Thiange 3 and several CCGTs), were in planned maintenance/outage which led to tightness in the system. The highest price spike during the week was of 517.57 €/MWh on Tuesday in the evening at HE 21.00.
The gas price dropped from 35.9 €/MWh in Week 26 to 32.9 €/MWh in Week 27.
Electricity (€/MWh)
Gas (€/MWh)
Long term:
This was a week with limited movement for the 2026 contract. The Dutch power price dropped by 0.2 €/MWh to 83.4 €/MWh, the gas price remained 33.8 €/MWh, and the CO2 price increased by 0.7 €/ton to 73.5 €/ton. For 2027 and 2028 power prices gained over 1.7 €/MWh with only modest changes in gas and carbon prices, this indicates that the market expects a tighter supply/demand balance.
Weekly changes
Base (€/MWh)
Peak (€/MWh)
Gas (€/MWh)
CO2 (€/MWh)
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