Energy prices in Europe: how much did electricity cost in August 2026?

Date06 Oct 2026

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In August 2026, European electricity prices ranged from about EUR 41/MWh in Finland to over EUR 175/MWh in parts of Italy.

Key results at a glance

Poland’s average day-ahead price was EUR 134.40/MWh in August 2026, higher than in Germany, France and Spain.

Finland averaged EUR 41.30/MWh, while the average day-ahead price in Northern Italy reached EUR 176.89/MWh.

Wholesale electricity prices are only one part of final costs, which also include network charges, taxes and contract terms.

In Poland, renewables accounted for 30.42% of electricity generated and fed into the grid in 2025, equal to 49.26 TWh.

A EUR 20/MWh price difference at annual consumption of 100 GWh equals about EUR 2 million in annual electricity purchasing costs.

Key takeaways

Spot prices do not show the full energy cost

Investment analysis must also consider network charges, taxes and the terms of the individual electricity supply contract.

Location can materially affect operating costs

Differences between European markets can significantly change the cost base of energy-intensive projects.

Grid access matters for investment decisions

Available capacity, connection times and access to a Power Purchase Agreement can affect location analysis.

Poland’s energy system is still changing

A growing renewable share and grid expansion may affect electricity supply structures and contracting conditions.

Energy prices in Europe varied substantially in August 2026. Average wholesale day-ahead prices were around EUR 41/MWh in Finland, EUR 118/MWh in Spain, EUR 127/MWh in Germany and EUR 134/MWh in Poland, while Northern Italy approached EUR 177/MWh. For investors, this means that energy-intensive location decisions should consider not only spot prices but also final electricity costs, grid capacity, connection times and access to long-term Power Purchase Agreements (PPAs).

In this article:

How much did electricity cost in Europe in August 2026?

Day-ahead prices differed significantly between European markets. Northern Europe recorded some of the lowest levels, while Italian bidding zones were among the most expensive.

Market	Average day-ahead price, August 2026
Finland	EUR 41.30/MWh
Estonia	EUR 59.00/MWh
Lithuania	EUR 80.00/MWh
Spain	EUR 117.92/MWh
France	EUR 122.80/MWh
Germany	EUR 126.89/MWh
Belgium	EUR 129.32/MWh
Poland	EUR 134.40/MWh
Czechia	EUR 138.21/MWh
Austria	EUR 148.06/MWh
Hungary	EUR 152.17/MWh
Northern Italy	EUR 176.89/MWh

Source: ENTSO-E Transparency Platform, Nord Pool; average day-ahead prices for August 2026.

These are wholesale prices, not the amounts ultimately paid by businesses. Final electricity costs also include network charges, taxes, national levies and the terms of the individual supply contract.

Why did energy prices rise in summer 2026?

Key factors included gas prices, high temperatures and hydrological conditions that reduced the availability of some generation sources. Under Europe’s marginal pricing model, gas-fired generation can influence the overall market price when it is required to meet demand.

The geopolitical situation in the Middle East was another factor. In early September, the European Commission noted that LNG production in Qatar remained suspended. However, on 3 September the Commission and EU Member States assessed that there was no immediate security-of-supply risk.

Is electricity expensive in Poland?

At EUR 134.40/MWh, Poland was among the more expensive markets analysed, although prices remained below those in Czechia, Austria, Hungary and parts of Italy.

Poland’s changing energy system is also relevant to investors. In 2025, renewables accounted for 30.42% of electricity generated and fed into the grid, or 49.26 TWh out of 161.92 TWh.

PSE’s 2025–2034 transmission network plan includes:

approximately 4,700 km of new 400 kV line circuits,
28 new substations and upgrades to 110 existing substations,
more than PLN 64 billion in estimated investment by 2034.

What do energy prices mean for investors?

Companies planning factories, data centres, cold-storage facilities or other energy-intensive projects should compare final electricity costs, available connection capacity and timelines, access to a Power Purchase Agreement (PPA) and the possibility of using on-site renewable generation or energy storage.

The impact can be substantial. At annual consumption of 100 GWh, a EUR 20/MWh price difference equals approximately EUR 2 million in annual electricity purchasing costs, before network charges, taxes and other bill components.

For businesses investing in Poland, electricity cost and availability should therefore form part of location analysis alongside labour costs, infrastructure and market access.