Quarterly average wholesale prices in selected regions, 2016-2021

Sources

IEA analysis using data from RTE (France) and Red Eléctrica (Spain) – both accessed via the ENTSO-E Transparency Platform; Bundesnetzagentur (2021), SMARD.de; Elexon (2021), Electricity data summary; AEMO (2021), Aggregated price and demand data; AER (2021), Wholesale statistics; EIA (2022), Short-Term Energy Outlook January 2022; Nordpool (2021), Historical Market Data; IEX (2021), Area Prices. Latest update: 12 January 2022.

Notes

The grey area materialises the US and Japan peaks. Q1 2021 US peak caused by supply disruptions due to an extreme weather event, increasing average regional prices in ERCOT to over USD 600/MWh and in SPP to over USD 250/MWh. Q1 2021 Japan peak caused by a surge in demand due to an extreme cold weather event and low gas-fired generation. Price index aggregates the wholesale electricity price changes across the depicted regions. It is calculated as the demand-weighted rolling average of the respective current and previous three-quarter indexed prices of the depicted wholesale electricity markets. The prices for Australia and the United States are calculated as the demand-weighted average of all the regional markets.