In February 2025, energy prices were highly dependent on weather conditions and the availability of renewable energy. After a cold start, gas prices rose, leading to higher CO₂ prices and higher electricity prices. The CO₂ price peaked at €83/ton on Feb. 11, but then fell to just below €71/ton, lowering gas and electricity prices. Forward electricity prices (CAL26) rose to €98/MWh in early February, but fell to €84.09/MWh by the end of the month. Variable daily prices also showed strong fluctuations, with the highest price of €162.44/MWh on a cold, sunless day and the lowest of €79.16/MWh on a windy, lower demand day. The average daily price was €128.75/MWh, the highest level since February 2023.

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