The Dutch Power Prices Recover After a Windy Week, while Gas Prices Edge down

The Dutch power prices averaged €72.1/MWh last week — an increase of €13.6/MWh compared to the previous week. The week before had been quite volatile, with prices clearing above €80/MWh on some days and below €20/MWh on others due to fluctuating weather conditions. In contrast, last week’s prices were less volatile, hovering around €70/MWh for most of the period. Generation from renewables declined overall: German wind output dropped by around 20%, Dutch wind by about 5%, German solar by around 5%, and Dutch solar by approximately 30% compared to the previous week. With last week marking the end of the month, October averaged €84.1/MWh, only €1/MWh higher than September.

Gas prices declined last week from €32.2/MWh at the start of the week and closing at €30.4/MWh. The downward movement was largely driven by warmer-than-normal temperature forecasts for early November, which softened demand expectations across much of Western and Central Europe. Ample LNG arrivals into Europe further reinforced the bearish sentiment, maintaining a comfortable supply balance. With storage levels high and Asian demand remaining subdued, Europe faced limited competition for LNG cargoes, keeping inflows steady.