Map of electricity spot price in Europe today, 22. February 2024

Map of electricity spot prices in Europe today, country by country. Also read the latest energy news.

Today's Highest Electricity Price: ๐Ÿ‡ฎ๐Ÿ‡น Italy's โ‚ฌ0.103/kWh

In today's electric market, ๐Ÿ‡ฎ๐Ÿ‡น Italy rings at the top with the highest price in its price zone; Sicily. Reaching up to โ‚ฌ0.103 per kWh. There is a variation within the country as other zones have different prices, with the lowest being โ‚ฌ0.087 in the South and Calabria.

Midway through the list, countries such as ๐Ÿ‡ท๐Ÿ‡ด Romania, ๐Ÿ‡จ๐Ÿ‡ญ Switzerland, and ๐Ÿ‡จ๐Ÿ‡ฟ Czech Republic hover around the โ‚ฌ0.07 range.

Today's comparisons end with ๐Ÿ‡ช๐Ÿ‡ธ Spain and ๐Ÿ‡ต๐Ÿ‡น Portugal both sanctifying the lowest electricity price at a mere โ‚ฌ0.011 per kWh. This significant difference demonstrates the wide disparity in the cost of electricity across Europe.

Price area โ€“ โ‚ฌ/kWh Avg. High Low
#1 ๐Ÿ‡ฎ๐Ÿ‡น Italy (Sicily) +23,0% 0.103 0.178 0.071
#2 ๐Ÿ‡ฎ๐Ÿ‡น Italy (Centre-South) +11,3% 0.093 0.149 0.071
#3 ๐Ÿ‡ฎ๐Ÿ‡น Italy (Sardinia) +11,3% 0.093 0.149 0.071
#4 ๐Ÿ‡ฎ๐Ÿ‡น Italy (Centre-North) +6,4% 0.089 0.149 0.055
#5 ๐Ÿ‡ฎ๐Ÿ‡น Italy (North) +6,4% 0.089 0.149 0.055
#6 ๐Ÿ‡ฎ๐Ÿ‡น Italy (Calabria) +4,0% 0.087 0.115 0.071
#7 ๐Ÿ‡ฎ๐Ÿ‡น Italy (South) +4,0% 0.087 0.115 0.071
#8 ๐Ÿ‡ฌ๐Ÿ‡ท Greece -5,2% 0.077 0.118 0.060
#9 ๐Ÿ‡ต๐Ÿ‡ฑ Poland -6,4% 0.074 0.089 0.053
#10 ๐Ÿ‡ง๐Ÿ‡ฌ Bulgaria -10,3% 0.072 0.118 0.010
#11 ๐Ÿ‡ท๐Ÿ‡ด Romania -12,3% 0.071 0.118 0.010
#12 ๐Ÿ‡ช๐Ÿ‡ช Estonia -10,0% 0.063 0.101 0.004
#13 ๐Ÿ‡ฑ๐Ÿ‡ป Latvia -10,0% 0.063 0.101 0.004
#14 ๐Ÿ‡ฑ๐Ÿ‡น Lithuania -10,0% 0.063 0.101 0.004
#15 ๐Ÿ‡จ๐Ÿ‡ญ Switzerland -0,5% 0.062 0.073 0.055
#16 ๐Ÿ‡ท๐Ÿ‡ธ Serbia -9,5% 0.059 0.076 0.030
#17 ๐Ÿ‡ญ๐Ÿ‡ท Croatia -11,7% 0.058 0.082 0.009
#18 ๐Ÿ‡จ๐Ÿ‡ฟ Czech Republic -5,3% 0.058 0.081 0.006
#19 ๐Ÿ‡ญ๐Ÿ‡บ Hungary -10,4% 0.058 0.081 0.010
#20 ๐Ÿ‡ธ๐Ÿ‡ฎ Slovenia -11,4% 0.056 0.079 0.009
#21 ๐Ÿ‡ธ๐Ÿ‡ฐ Slovakia -10,2% 0.055 0.081 0.006
#22 ๐Ÿ‡ฆ๐Ÿ‡น Austria -11,6% 0.054 0.079 0.004
#23 ๐Ÿ‡ณ๐Ÿ‡ฑ Netherlands -6,6% 0.053 0.082 0.020
#24 ๐Ÿ‡ณ๐Ÿ‡ด Norway (West) +3,3% 0.052 0.079 0.038
#25 ๐Ÿ‡ณ๐Ÿ‡ด Norway (East) +2,8% 0.052 0.079 0.033
#26 ๐Ÿ‡ณ๐Ÿ‡ด Norway (South) +2,8% 0.052 0.079 0.033
#27 ๐Ÿ‡ฉ๐Ÿ‡ช Germany -11,5% 0.051 0.082 0.002
#28 ๐Ÿ‡ฑ๐Ÿ‡บ Luxembourg -11,5% 0.051 0.082 0.002
#29 ๐Ÿ‡ฉ๐Ÿ‡ฐ Denmark (West) -3,5% 0.049 0.082 0.002
#30 ๐Ÿ‡ฉ๐Ÿ‡ฐ Denmark (East) -1,6% 0.048 0.082 0.002
#31 ๐Ÿ‡ธ๐Ÿ‡ช Sweden (South) -4,0% 0.047 0.080 0.002
#32 ๐Ÿ‡ง๐Ÿ‡ช Belgium -18,7% 0.046 0.077 0.007
#33 ๐Ÿ‡ซ๐Ÿ‡ท France -26,0% 0.041 0.065 0.006
#34 ๐Ÿ‡ซ๐Ÿ‡ฎ Finland -18,0% 0.038 0.065 0.002
#35 ๐Ÿ‡ธ๐Ÿ‡ช Sweden (Mid-South) -21,9% 0.037 0.065 0.002
#36 ๐Ÿ‡ณ๐Ÿ‡ด Norway (Mid) -30,3% 0.031 0.037 0.018
#37 ๐Ÿ‡ณ๐Ÿ‡ด Norway (North) -17,7% 0.031 0.037 0.018
#38 ๐Ÿ‡ธ๐Ÿ‡ช Sweden (North) -35,4% 0.030 0.037 0.002
#39 ๐Ÿ‡ธ๐Ÿ‡ช Sweden (Mid-North) -35,4% 0.030 0.037 0.002
#40 ๐Ÿ‡ต๐Ÿ‡น Portugal -76,1% 0.011 0.023 0.003
#41 ๐Ÿ‡ช๐Ÿ‡ธ Spain -76,3% 0.011 0.023 0.003
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The dynamics of the electricity market in Europe in 2024

Primary electricity sources in Europe

Europe's electricity market is characterized by a diverse array of energy sources. The main source of electricity across the continent varies by region, reflecting different geographical and economic factors.

Energy sources in Europe

In many European countries, nuclear energy and natural gas are significant contributors to the electricity mix. Renewable sources like wind, solar, and hydroelectric power are also rapidly growing, reflecting the continent's commitment to sustainable energy.

Role of renewable energy

Renewable energy is increasingly prominent in Europe's energy landscape. Countries are investing in wind farms, solar panels, and hydroelectric plants to reduce carbon emissions and combat climate change.

This shift towards renewables is driven by both environmental policies and technological advancements. European nations are leading the way in developing and implementing green energy technologies.

Advancements in smart metering

Following EU regulations, a significant number of households in Europe have installed smart meters. These devices provide detailed information on electricity usage, measuring consumption on an hourly basis.

Smart meters enable consumers to adjust their energy use in response to real-time data. Many European households have electricity plans that are linked to the current spot price, allowing them to benefit from hourly price variations.

Interconnected European electricity market

Most European countries are part of a shared electricity market, which is facilitated by extensive interconnections between national grids. This integration allows for the efficient distribution of electricity across borders.

These connections enhance the reliability of the electricity supply and promote the use of renewable energy sources. They allow countries with excess renewable energy to export it to regions with higher demand, optimizing the use of green energy across the continent.

Challenges and opportunities in energy supply

Europe faces challenges in balancing its energy supply, particularly with the variable nature of renewable sources. Ensuring a stable and continuous supply of electricity is a key focus.

Investments in energy storage technologies and grid modernization are critical in addressing these challenges. These advancements will enable Europe to maximize the benefits of its diverse energy mix.

Frequently asked questions about energy and electricity

What is a kWh?

kWh stands for kilowatt-hour, and is a unit that tells how much energy is used in one hour. Kilo means a thousand. So for example, if you have a 1000 watt oven on for one hour, you have used 1 kilowatt-hour. For a light bulb, which may only consume 10 watt, it will take 100 hours (just over 4 days) before you have used 1 kWh.

What is spot price?

Most electricity companies in Europe buy electricity on a common market place, such as Nord Pool. All power plants that produce electricity and electricity companies that supply electricity to homes and businesses meet there. Based on supply and demand, prices are set for each hour and each area, one day in advance. Some countries, such as Norway, are divided into several different price areas, each of which has its own spot price.

What determines the electricity spot price?

Supply and demand determine the price of electricity in Europe. If there is a high production of electricity from power plants and demand is low, the price will fall. If, on the other hand, the production of electricity is small and demand is high, prices will increase. Therefore, the price of electricity is often highest in winter, as the need for electricity for heating is highest.

What uses the most electricity at home?

Heating certainly uses the most electricity, closely followed by hot water and charging electric cars. Electrical appliances such as TVs, mobile phones and computers use very little electricity in relation to heating.

All prices are current open market spot prices in the day-ahead segment without local vat, tax or other additions.

Timezone is Central European Time (CET) with Daylight Saving Time (DST). Current time: Thu, 22 Feb 2024 04:00

Data source is ENTSO-E