European Power Pulse — week 2026-W32

European day-ahead prices rose sharply in week 2026-W32, with the average across 47 zones reaching 282.44 EUR/MWh, up from 210.49 the previous week. Much of that lift is concentrated in a single outlier rather than a broad continental move, so the headline figure should be read with that caveat.

The Nordic north stayed cheapest: NO4 averaged 4.93, ahead of SE1 at 12.18 and FI at 12.96, each edging lower week-over-week and each touching a floor of zero. At the other extreme, Ukraine averaged 7,845.08 with a maximum of 15,000, well clear of any other market. The next priciest zones were far below that: IT-SICI at 189.06 and IT-CNOR at 188.12.

The largest mover was again UA, up 2,979.51 on the week, followed by MK at 150.72 (up 42.53) and GR at 135.85 (up 38.39). Negative pricing was a Central and Western European story: NL logged 65 negative hours, DE-LU 59.5, FR 30, BE 19.5 and PL 14, contributing to 263.3 negative hours in total. DE-LU also set the lowest point of the week at -18.49.

On our own scoreboard, we scored 46 zones and beat the baseline in 36 of them, an average improvement of 9 percent, with IE-SEM, AT and DK1 among the strongest results; UA and MK were the two zones where we did not beat the baseline, and those losing zones are free under our accuracy guarantee.