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VOL 8 | NUM 40 | 9 June 2026
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Power Markets Weekly
is a brief weekly review of the electric market operation in Chile, Mexico, Iberia, France and Italy. If you are not a subscriber, please feel free to subscribe
here
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DNV offers tools for Wholesale Market analysis and operation:
- DNV Power Analytics (DNV-PA) is our web-based platform that provides access to constantly updated long-term energy price forecasts.
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Lower Iberian baseload price thanks to high wind, despite higher price peaks amid reduced nuclear availability
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The average price of Day-Ahead Market in Spain reached EUR 56.8/MWh last week, registering a decrease of -6.4% compared to the previous week's average (EUR 60.7/MWh). This weekly price was 11% higher than 2025 (EUR 51.4/MWh) and 15% lower than in 2024 (EUR 67.1/MWh).
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YTD average is EUR 47.3/MWh, -21% lower than YTD value in 2025 (EUR 59.5/MWh) and 31% higher than YTD value in 2024 (EUR 36.2/MWh).
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Annual evolution of the average weekly price of the Spanish Daily Market
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Generation plus imports in Iberia decreased by -0.8%, reaching 6.23 TWh, compared to the 6.28 TWh recorded the previous week.
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The main changes observed in the energy mix, compared to the previous week, were:
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- Wind generation share increased by 6 pp, followed by imports (1.6 pp)
- Resulting in share decrease of hydro (-2.8 pp), solar PV (-1.7 pp), gas (-1.5 pp) and nuclear (-1.1 pp)
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Global renewable energy share increased from 66.6% to 67.8% since the previous week.
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Generation Mix Iberia
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Variation Iberia
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Nuclear
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Cogeneration
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Renewable thermal
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Coal
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Combined cycle
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Hydraulic
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Wind
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Solar PV
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Solar thermal
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Imports
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Power range by energy sources vs demand Iberia
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Hourly prices in Iberia were, on average, higher than in France, with more pronounced ramp‑ups and peaks during demand hours. In contrast, French prices showed a smoother intraday profile, with less sharp variations between low and peak periods.
However, the opposite pattern was observed during low‑price hours, as negative prices in France were deeper than in Iberia, where prices remained closer to zero and did not drop as sharply.
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The weekly maximum was EUR 152.4/MWh, reached on Monday at 10:00 p.m., coupled with Portugal and France. Minimum price, EUR -2.1/MWh was reached on Sunday between 11:15 a.m. and 4:45 p.m.
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The SWE grid coupling was 37%, lower than recorded the previous week, 64%.
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- Spain-Portugal: 86%
- Spain-France: 44%
- SWE (ES-PT-FR): 37%
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Weekly evolution of the hourly price of the Day-ahead and Intraday Market (DAM and IM)
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Spanish DAM
EUR 56.8/MWh
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Spanish IM
EUR 58.5/MWh
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Portugal DAM
EUR 56.9/MWh
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France DAM
EUR 22.6/MWh
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Hourly detail of the generation & interconnections in Iberia
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The highlights from last week
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- The hourly average output of nuclear generation was 4.7 GW. Ascó I will continue under scheduled maintenance until June 14 and Almaraz I registered an incidence and will stop its generation until June 14. Vandellós reported an incidence on Saturday and since this day is generating below its usual levels
- Hydraulic generation provided night-time peak generation, and relevant pumping in Iberia all days of the week. The hourly average production was 4.2 GW
- Gas generation provided an hourly average output of 4.1 GW, with weekly maximum values of 10.5 GW on Monday at 9 p.m.
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- Solar PV was the first source of electricity during 52% of the week, followed by wind (27%) and hydro (21%)
- Hourly renewable share fluctuated between 48% and 80% of total generation, a similar variation than observed in the previous week (44% and 80%). Wind's maximum share reached 35% of hourly generation, while solar PV's maximum share reached 70%
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Solar and wind generation
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- Wind generation was 1.1 TWh, 48.3% higher than the previous week
- Solar PV generation was 2.1 TWh, 5.4% lower than the previous week
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Generation by technology Iberia
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Interconnections by country, from Spain
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Hourly wind & solar generation
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Solar PV Captured Price
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Wind Captured Price
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Spain
EUR 12.6/MWh
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Portugal
EUR 9.4/MWh
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Spain
EUR 68.2/MWh
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Portugal
EUR 63.1/MWh
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*The solar / wind price has been calculated as the DA price weighted by the solar / wind generation of the peninsula.
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Futures Market & Commodities
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On the oil market, prices rose early in the week as renewed tensions in Lebanon and stalled diplomacy supported risk premia. Despite intermittent price rebounds following renewed strikes, the market remained range‑bound as investors weighed conflicting signals on negotiations and the reopening of the Strait of Hormuz. Overall, settlements fell from USD 94.98/bbl (Mon) to USD 93.09/bbl (Fri), with prices trading between USD 92.20–98.99/bbl.
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European gas prices rose amid renewed US strikes on Iran and hotter weather forecasts, which supported demand and reinforced concerns over LNG flows. However, improving EU storage levels above 40% weighed on sentiment. Toward the end of the week, TTF remained largely steady despite continued tensions and slow progress in negotiations. Overall, settlements edged down from EUR 49.09/MWh (Mon) to EUR 48.50/MWh (Fri), within a range of EUR 46.53–49.72/MWh.
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European carbon prices briefly held above EUR 80/t, supported by rising net long exposure and reduced short positions. However, gains faded mid‑week amid limited fundamental support and concerns over industrial demand and upcoming ETS reforms, leading prices to trend lower. Overall, settlements fell from EUR 79.17/t (Mon) to EUR 76.94/t (Fri), within a range of EUR 76.25–80.99/t.
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Finally, power futures had a mixed performance. Q3 26 closed decreasing 0.8% at EUR 87/MWh, while Q4 26 rose by 0.9% to EUR 90.8/MWh. Q1 27 decreased by 1.4% to EUR 73/MWh. For annual contracts, Cal 27 rose by 1.5% to EUR 61.6/MWh, and Cal 28 rose by 2.8% to EUR 58.2/MWh.
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