Biggest European zone spreads โ€” 2026-05-24

Day-ahead averages across 40 European bidding zones. Europe-wide mean: โ‚ฌ 53.81 /MWh (โ‚ฌ 0.0538 /kWh). Gaps below show where electricity is cheapest vs most expensive โ€” the bigger the spread, the more value transmission interconnectors capture.

Top 10 cheap โ†’ expensive zone pairs

CheapExpensiveCheap (โ‚ฌ/MWh)Expensive (โ‚ฌ/MWh)Spread
๐Ÿ‡ธ๐Ÿ‡ช SE2๐Ÿ‡ฎ๐Ÿ‡น Italy North0.0392.48โ‚ฌ 92.45 (3071.8ร—)
๐Ÿ‡ธ๐Ÿ‡ช SE2๐Ÿ‡ฎ๐Ÿ‡น Italy Centre-North0.0392.48โ‚ฌ 92.45 (3071.8ร—)
๐Ÿ‡ธ๐Ÿ‡ช SE1 (North)๐Ÿ‡ฎ๐Ÿ‡น Italy North0.1892.48โ‚ฌ 92.29 (507.6ร—)
๐Ÿ‡ธ๐Ÿ‡ช SE1 (North)๐Ÿ‡ฎ๐Ÿ‡น Italy Centre-North0.1892.48โ‚ฌ 92.29 (507.6ร—)
๐Ÿ‡ธ๐Ÿ‡ช SE2๐Ÿ‡ฎ๐Ÿ‡น Italy Centre-South0.0391.94โ‚ฌ 91.91 (3054.0ร—)
๐Ÿ‡ธ๐Ÿ‡ช SE2๐Ÿ‡ฎ๐Ÿ‡น Italy South0.0391.94โ‚ฌ 91.91 (3054.0ร—)
๐Ÿ‡ธ๐Ÿ‡ช SE2๐Ÿ‡ฎ๐Ÿ‡น Sardinia0.0391.94โ‚ฌ 91.91 (3054.0ร—)
๐Ÿ‡ธ๐Ÿ‡ช SE2๐Ÿ‡ฎ๐Ÿ‡น Sicily0.0391.94โ‚ฌ 91.91 (3054.0ร—)
๐Ÿ‡ซ๐Ÿ‡ฎ Finland๐Ÿ‡ฎ๐Ÿ‡น Italy North0.6692.48โ‚ฌ 91.81 (139.5ร—)
๐Ÿ‡ซ๐Ÿ‡ฎ Finland๐Ÿ‡ฎ๐Ÿ‡น Italy Centre-North0.6692.48โ‚ฌ 91.81 (139.5ร—)

Cheapest 8 zones today

  1. ๐Ÿ‡ธ๐Ÿ‡ช SE2 โ€” โ‚ฌ 0.03 /MWh (โ‚ฌ 0.0000 /kWh)
  2. ๐Ÿ‡ธ๐Ÿ‡ช SE1 (North) โ€” โ‚ฌ 0.18 /MWh (โ‚ฌ 0.0002 /kWh)
  3. ๐Ÿ‡ซ๐Ÿ‡ฎ Finland โ€” โ‚ฌ 0.66 /MWh (โ‚ฌ 0.0007 /kWh)
  4. ๐Ÿ‡ช๐Ÿ‡ช Estonia โ€” โ‚ฌ 1.46 /MWh (โ‚ฌ 0.0015 /kWh)
  5. ๐Ÿ‡ณ๐Ÿ‡ด NO4 (North) โ€” โ‚ฌ 2.17 /MWh (โ‚ฌ 0.0022 /kWh)
  6. ๐Ÿ‡ช๐Ÿ‡ธ Spain โ€” โ‚ฌ 15.60 /MWh (โ‚ฌ 0.0156 /kWh)
  7. ๐Ÿ‡ณ๐Ÿ‡ด NO3 (Mid) โ€” โ‚ฌ 17.08 /MWh (โ‚ฌ 0.0171 /kWh)
  8. ๐Ÿ‡ซ๐Ÿ‡ท France โ€” โ‚ฌ 17.52 /MWh (โ‚ฌ 0.0175 /kWh)

Most expensive 8 zones today

  1. ๐Ÿ‡ฎ๐Ÿ‡น Italy Centre-North โ€” โ‚ฌ 92.48 /MWh (โ‚ฌ 0.0925 /kWh)
  2. ๐Ÿ‡ฎ๐Ÿ‡น Italy North โ€” โ‚ฌ 92.48 /MWh (โ‚ฌ 0.0925 /kWh)
  3. ๐Ÿ‡ฎ๐Ÿ‡น Sicily โ€” โ‚ฌ 91.94 /MWh (โ‚ฌ 0.0919 /kWh)
  4. ๐Ÿ‡ฎ๐Ÿ‡น Sardinia โ€” โ‚ฌ 91.94 /MWh (โ‚ฌ 0.0919 /kWh)
  5. ๐Ÿ‡ฎ๐Ÿ‡น Italy South โ€” โ‚ฌ 91.94 /MWh (โ‚ฌ 0.0919 /kWh)
  6. ๐Ÿ‡ฎ๐Ÿ‡น Italy Centre-South โ€” โ‚ฌ 91.94 /MWh (โ‚ฌ 0.0919 /kWh)
  7. ๐Ÿ‡บ๐Ÿ‡ฆ Ukraine IPS โ€” โ‚ฌ 89.07 /MWh (โ‚ฌ 0.0891 /kWh)
  8. ๐Ÿ‡ท๐Ÿ‡ธ Serbia โ€” โ‚ฌ 76.10 /MWh (โ‚ฌ 0.0761 /kWh)
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What is a zone spread?

Europe's electricity grid is divided into ~41 bidding zones โ€” each with its own day-ahead auction. When wind, solar or hydro overproduce in one zone but demand peaks in another, prices diverge. Cross-border interconnectors arbitrage the difference, but only up to their physical capacity. Spreads tell you where the grid is most under stress today.

For consumers: large spreads mean your countryโ€™s neighbours have cheaper electricity right now. For traders: spreads are the basic unit of European power trading.

Drill into any zone's detailed page for hourly prices, period comparisons and cost calculators.