Germany's electricity prices have experienced an increase in the latter half of 2024 and the beginning of 2025, reaching an average of 140.42 euros per megawatt-hour in February 2025. This marks a notable decrease from the record high of over 469 euros per megawatt-hour in August 2022, yet remains above pre-pandemic levels. The ongoing volatility in energy prices continues to impact German households and businesses, reflecting broader trends across Europe's energy landscape. Electricity price recovery German electricity prices began recovering back to pre-energy crisis levels in 2024, a period driven by a complex interplay of factors, including increased heating demand, reduced wind power generation, and water scarcity affecting hydropower production. The rise in natural gas and coal prices, exacerbated by the economic recovery post-COVID-19 and the Ukraine conflict, further contributed to the spike. Despite Germany's progress in renewable energy sources, with over 50 percent of gross electricity generated from renewable sources in 2023, the country still relies heavily on fossil fuels. Coal and natural gas accounted for approximately 40 percent of the energy mix, making Germany vulnerable to fluctuations in global fuel prices. Impact on consumers and future outlook The volatility in electricity prices has directly impacted German consumers. As of April 1, 2024, households with basic supplier contracts were paying around 46 cents per kilowatt-hour, making it the most expensive option compared to other providers or special contracts. The breakdown of household electricity prices in 2023 showed that supply and margin, along with energy procurement, constituted the largest controllable components, amounting to 40.6 and 11.6 euro cents per kilowatt-hour, respectively. While prices have decreased since the 2022 peak, they remain higher than pre-crisis levels, underscoring the ongoing challenges in Germany's energy sector as it continues its transition towards renewable sources.

During the observed period, electricity prices in the wholesale market more than doubled for some countries in Central and Eastern Europe (CEE). In February 2025, the highest electricity prices in the region were recorded in Poland, where one MWh cost over 137 euros. For comparison, in Latvia and Lithuania, the wholesale price of one MWh was nearly 122 euros.

In February 2025, the average wholesale electricity price in France amounted to 126.63 euros per megawatt-hour, an increase on the previous month. The electricity price was more than twice as high compared to the same period the previous year.

Wholesale electricity prices in the European Union (EU) increased in 2024 after recovering from the global energy crisis in 2023. This was the result of a myriad of factors, including increased demand in the “post-pandemic” economic recovery, a rise in natural gas and coal prices, and a decline in renewable power generation due to low wind speeds and drought. Nuclear power's critical role In 2023, nuclear and wind were among the leading sources of electricity generation in the EU, accounting for more than one-third of the output. Nuclear energy continues to play a crucial role in the European Union's electricity mix, generating approximately 619 terawatt-hours in 2023, which accounted for about 20 percent of the region's power production. However, the future of nuclear power in Europe is uncertain, with some countries like Germany phasing out their nuclear plants while others maintain their reliance on this energy source. The varied approaches to nuclear power across EU member states contribute to the differences in electricity prices and supply stability throughout the region.

Renewable energy's growing impact As Europe strives to decarbonize its energy sector, renewable sources are gaining prominence. Wind power in Europe, in particular, has seen significant growth, with installed capacity in Europe reaching 257.1 gigawatt hours in 2023. This expansion of renewable energy infrastructure is gradually reshaping the electricity market, potentially leading to more stable prices in the long term. However, the intermittent nature of some renewable sources, such as wind and solar, can still contribute to price fluctuations, especially during periods of low output.

The average wholesale electricity price in Spain amounted to 119.03 euros per megawatt-hour in February 2025, an increase compared to the previous month. The electricity price was lower compared to the same period in the previous year. Non-household and household electricity prices in Spain Average annual electricity prices in Spain have not yet fallen back to between 40 and 65 euros per megawatt-hour, the average electricity price before the impact of the energy supply shortage in 2021. Household electricity prices in Spain average 99.6 euro cents per kilowatt-hour in 2023. Similarly, non-household electricity prices have not yet fully recovered to pre-energy supply shortage levels, averaging 12.17 euro cents per kilowatt-hour in 2024. Spanish electricity market The Spanish electricity market consists of two sectors: a regulated sector and a liberalized sector. Both sectors are dominated by two utility companies, Endesa and Iberdrola. The companies possessed a combined market share of 75 percent within the regulated market in the year 2023, whereas their combined share of the liberalized market amounted to 64 percent that same year.

The average wholesale electricity price in Ireland amounted to 123.59 euros per megawatt-hour in October 2024. During the period in consideration, figures reached a record high in March 2022, at over 293 euros per megawatt-hour. This was an increase of more than 302 percent compared to the same month a year prior.

In the observed period, weighted average monthly electricity prices on the day-ahead market in Poland increased from 163.95 zloty/MWh in January 2018 to over 500 zloty/MWh (117.77 EUR/MWh) in January 2025. The record weighted average price occurred in August 2022, exceeding 1,300 zloty. Consumption of electricity in Poland Electricity is essential to modern life and vital to every country’s economy. Starting from 1990, the final annual electricity consumption reached a value of 124.7 terawatt-hours. It eventually grew to 160 tWh in 2023, which happened to be a six percent decrease compared to the previous year. Consumption of solar photovoltaic power has become popular in recent years, but also the capacity of solar photovoltaic per inhabitant in Poland has significantly increased, rising from just 0.1 watts per inhabitant in 2013 to 464.1 W/inhab in 2023. In 2023, 18.5 million customers in Poland used electricity with consumption lower than 50 megawatt-hours. Electricity production from renewables Throughout the years, there have been different methods and sources of electricity production worldwide. Starting in 2012, the electricity production from solar photovoltaic power generated only 3.4 gigawatt-hours. In 2023, Poland's electricity production volume from solar photovoltaic power reached a peak of over 11 terawatt hours. Another source of electricity production was the wind. Where the production of electricity from wind steadily increased from five gigawatt-hours in 2000 to 23,234 gigawatt-hours in 2023. Biogas and biomass also play a significant role in the production of electricity. In 2012, electricity production from biogas and biomass was the highest at around 10,094 gigawatt-hours. However, in 2022, the production decreased, reaching 6,352 GWh.

The average wholesale electricity price in Italy amounted to 117 euros per megawatt-hour in October 2024. Prices peaked in August 2022 at 544 euros per megawatt-hour.

The average wholesale electricity price in Sweden stood at 19.57 euros per megawatt-hour in October 2024. Prices in the country peaked in December 2022 at 235 euros per megawatt-hour.

The average wholesale electricity price in Portugal stood at 69.36 euros per megawatt-hour in October 2024, a decrease from the previous month. Wholesale electricity prices in Portugal peaked at over 283 euros per megawatt-hour in March 2022.

Wholesale electricity prices in the United Kingdom hit a record-high in 2022, reaching 21.7 British pence per kilowatt-hour that year. Projections indicate that prices are bound to decrease steadily in the next few years, falling under five pence per kilowatt-hour by 2030.

In February 2025, electricity prices in the United Kingdom amounted to 143.37 British pounds per megawatt-hour, an increase on the previous month. A record high was reached in August 2022 when day-ahead baseload contracts averaged 363.7 British pounds per megawatt-hour.
Electricity price stabilization in Europe Electricity prices increased in 2024 compared to the previous year, when prices stabilized after the energy supply shortage. Price spikes were driven by the growing wholesale prices of natural gas and coal worldwide, which are among the main sources of power in the region.

… and in the United Kingdom? The United Kingdom was one of the countries with the highest electricity prices worldwide during the energy crisis. Since then, prices have been stabilizing, almost to pre-energy crisis levels. The use of nuclear, wind, and bioenergy for electricity generation has been increasing recently. The fuel types are an alternative to fossil fuels and are part of the country's power generation plans going into the future.

In October 2024, the average wholesale electricity price in the Netherlands amounted to 87.8 euros per megawatt-hour, an increase from the previous month. Figures reached a record high of 447 euros per megawatt-hour in August 2022.

The price of electricity in Finland stood at 40.69 euros per megawatt-hour in October 2024. Prices reached a peak in August 2022, amounting to 262 euros per megawatt-hour.

Denmark was the Nordic country with the highest wholesale electricity price for most of 2024. In January 2025, the average day-ahead electricity price in the country amounted to 98.97 euros per megawatt-hour. Over the past few years, electricity prices soared in the Nordic region, the result of a global energy crisis that affected fossil fuels and electricity prices.

In October 2024, the average wholesale electricity price in Austria amounted to 85.82 euros per megawatt-hour, an increase on the previous month. In August 2022, Austria's electricity prices reached a record high, at around 489.5 euros per megawatt-hour.

In October 2024, the average wholesale electricity price in Romania amounted to 89.95 euros per megawatt-hour. In August 2022, wholesale electricity prices in Romania surpassed 490 euros per megawatt-hour.

It was projected that the annual average wholesale electricity price in the United States would range between 29 and 55 dollars per megawatt-hour in 2025. The Northwest price area will account for the highest electricity price, while prices will be lower in ERCOT (Electric Reliable Council of Texas).

The statistic gives the average wholesale electricity spot price in 2010, by selected U.S. region. Houston had an average wholesale electricity price of around 42 U.S. dollars per megawatt hour in 2010.

The average wholesale electricity price for the month of October in Czechia stood at 89.16 euros per megawatt-hour. In August 2022, the country recorded a peak in electricity prices of 477 euros per megawatt-hour.