European Power Pulse — week 2026-W29

European day-ahead prices eased in week 2026-W29, with the EU average across 47 zones at 189.44 EUR/MWh, down from 194.38 the previous week. The move was modest at the headline level but masked wide divergence between a soft Nordic complex and firmer prices further south and west.

The Nordic zones set the floor: SE1 was cheapest at 7.98 EUR/MWh, followed by SE2 at 8.44 and FI at 9.34, each down week-over-week. At the top, Ukraine remained an outlier at 3,688.28, though that was 892.67 lower than the prior week and reached a maximum of 11,000. Excluding UA, the priciest zones were IT-SICI at 166.32 and IE-SEM at 163.42.

The largest upward movers were NO5 and CH, gaining 24.12 and 23.55 respectively, with CH averaging 127.45 despite six negative hours. Negative pricing was concentrated in the central-western market: DE-LU led with 38.5 negative hours, ahead of NL at 36 and BE at 30.5, while FR and DK1 each posted 27. Across all zones, negative hours totalled 217.5. SE1 recorded the lowest single print at -14.09.

On our own scoreboard, 24 of 46 scored zones beat the baseline, for an average improvement of 9.8 percent, with standout results in XK, AL and SE3. We fell short of the baseline in the remaining zones, including IT-NORD and IE-SEM; under our guarantee, those losing zones are free.