German power for Feb 28 settles at 53.35 MWh: EPEX auction
TL;DR
German power prices for Feb 28 settled at €53.35/MWh in the EPEX auction, reflecting a significant decline due to increased renewable output, lower demand, and reduced gas and CO₂ costs. This aligns with broader European market trends of falling electricity prices in early February.
German power for Feb 28 settles at 53.35 MWh: EPEX auction
German Power Prices Settle at €53.35/MWh in EPEX Auction Amid Broader European Market Declines
On February 28, 2026, German power for the peakload calendar month settled at €53.35/MWh in the EPEX SPOT auction, reflecting a significant decline compared to earlier February levels. This follows a broader trend of falling electricity prices across much of Europe during the first week of the month, driven by increased renewable energy production, reduced demand, and lower gas and CO₂ emission costs according to market analysis.
In early February, European electricity markets experienced sharp price drops, with the MIBEL market (Spain/Portugal) seeing declines of up to 74%, while the German EPEX SPOT market fell by 13% week-on-week. Despite this, German prices remained above €100/MWh during the first week of February, peaking at €140.36/MWh on February 2 due to strong solar and wind generation and mild weather reducing demand. However, the latest auction suggests continued downward pressure, aligning with AleaSoft Energy Forecasting's projections of price declines in Spain and France due to sustained renewable output and lower demand.
Renewable energy production surged in early February, with Germany's solar photovoltaic output rising 77% week-on-week, reversing prior declines. Wind energy production in Italy hit a February record of 174 GWh on February 6, while France and Italy also saw notable increases according to market data. Meanwhile, electricity demand across Germany, France, and Italy fell by 1.4–6.6% compared to the prior week, supported by milder temperatures.
CO₂ emission allowance prices also contributed to lower power costs, hitting a 9-month low of €78.20/ton on February 5. Natural gas prices on the TTF benchmark remained below €36/MWh, further easing electricity market pressures.
Looking ahead, AleaSoft forecasts mixed trends for the second week of February, with prices expected to rise in most markets due to lower wind output and potential demand increases, though Spain and France may see continued declines as forecasted. The February 28 auction result underscores the volatile yet increasingly renewable-driven dynamics shaping European energy markets.
Source: AleaSoft Energy Forecasting, February 9, 2026.
