Are the Hitachi Energy European Power Reference Cases bankable?

Yes, Hitachi Energy's electricity price forecast accuracy stems from over two decades of pioneering energy market modeling in Europe. Our Energy Market Advisory team, with extensive experience in European energy markets, continuously refines our models to capture complexities in wholesale price forecasting and evolving markets, including balancing services, Guarantees of Origin, and hydrogen. Our European Power Reference Cases provide detailed, bankable forecasts across 47 bidding zones in 33 countries, supported by robust infrastructure, plant-level modeling, and rigorous research for each quarterly update, all underpinned by our market-leading software. This proven methodology enables us to support over 160 companies globally, with our European market reports serving over 140 subscriptions since 2008

How do you forecast electricity prices?

Hitachi Energy produces a quarterly fundamental analysis of the European electricity markets using our in-house Asset Modeling software solution powered by the PROMOD engine for capacity expansion and production cost modeling/power market simulations. These software solutions allow our team of experts to produce a market-based view of European power, gas, coal, oil, and CO2 emission allowances and fundamentals. This power outlook accounts for the interdependency of these markets and provides bankable electricity market forecasts based on consistent and up-to-date economic assumptions derived from our continuous market research process

Can I subscribe to only specific countries?

Yes, any number of countries can be bundled into a subscription. Get in touch to learn more.

How do you capture gas, coal, and carbon prices?

Our fuels team forecasts commodity prices globally, and our European advisory team forecasts carbon prices for Europe and the United Kingdom. Our fundamentals-based fuel forecasts have formed a key part of electricity price forecasting since the late 2000s.

What are the 33 European countries covered?

The European Power Reference Case provides power price forecasts and specific energy market intelligence for these countries. Western Europe Austria, Belgium, France, Germany, Great Britain, Ireland (I‑SEM includes Northern Ireland), Italy, Luxembourg, Netherlands, Portugal, Spain, Switzerland Northern Europe Denmark, Estonia, Finland, Latvia, Lithuania, Norway, Poland, Sweden Southeastern Europe Albania, Bosnia &and Herzegovina, Bulgaria, Croatia, Czech Republic, Greece, Hungary, Montenegro, North Macedonia, Romania, Serbia, Slovakia, Slovenia

Are Power Reference Cases available for other regions?

In addition to Europe, Hitachi Energy develops Power Reference Cases for energy markets in North America and Asia Pacific (Japan).

European Power Reference Case

Description

Secure project financing and strengthen financial projections with off-the-shelf, bankable price forecasts and market-based, fundamental intelligence reports for Europe’s interconnected power markets, covering electricity, renewables, fuels, and emissions. Built on consistent economic assumptions and policy alignments, the European Power Reference Case delivers 25- to 40‑year price forecasts, generation‑mix outlooks, and scenario comparisons to guide optimal investment, financing, and asset strategy decisions. Quantify long‑term revenues, stress‑test projects, and navigate policy and market shifts across Europe.

Key highlights

Bankable forecasts spanning 25 to 40 years, 3 scenarios, 33 countries
Hourly, monthly, and annual power and renewable capture prices
Capacity, generation, emissions, and interconnector flows
Webinars, market intelligence reports, and local advisors

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Software details
FAQ

Overview

Long-term energy outlooks
Whether developing new solar, wind, or BESS projects, underwriting financing, assessing a Power Purchase Agreement (PPA), entering a new market, or making other major capital decisions, you need comprehensive, unbiased, bankable market intelligence and forecasts.

Compare renewable and BESS projects and test sensitivities for risk‑return trade‑offs for new builds, acquisitions, and financing. Utilize the European Power Reference Case and local energy market advisors to structure investment deals, mitigate risks, validate revenue cases, and align stakeholders on optimal commercial decisions.

Challenges of projecting investment returns for European energy markets
Are your capital and investment projects resulting in lower projected profitability, delays, and other unforeseen risks because you have difficulty:

Finding unbiased, regularly updated, and thoroughly supported electricity price forecasts to project expected revenues and costs of energy infrastructure investments?
Staying up to date with energy markets, drivers, and the latest policies across Europe?
Securing financing to develop your energy investment projects from financial institutions that require widely accepted price forecasts?
Developing resilient investment strategies based on the understanding of long-term revenue profiles and risks?

Benefits

The European Power Reference Case and advisory team enable you to overcome these challenges and make capital decisions with confidence in your European power markets.

Maximize profitability and secure project financing

Develop robust business cases with bankable forecasts to project accurate, diversified revenues.
Understand market depth, competitiveness, and volatility.
Avoid unexpected low returns and costly forecast errors.

Reduce time and increase efficiency

Utilize off-the-shelf forecasts and detailed market reports – no additional in-house resources needed.
Reduce redundant manual analysis and work.
Easily stay up to date with live webinars and quarterly forecast releases.

Scale your business

Evaluate diverse energy technology projects across one or more European market price zones.
Consistently assess regional market opportunities with results based on an integrated, pan-European market model.
Assess revenues for energy and balancing services.

Clarity and transparency

Get access to local advisors for further explanation and expertise, supporting European customers with energy market intelligence since 2008.
Rely on transparent methodology and assumptions backed by decades of energy modeling expertise.
Receive detailed narrative market reports and scenarios.

Ready to maximize ROI and understand your energy markets?
Connect with our energy market advisors to learn more about bankable forecasts and market intelligence reports.

Features

Forecast details (25 years, up to 40 years)

Annual prices, monthly all-hours average prices, and hourly prices
Fuel prices, including natural gas, coal, oil, and biomass
Base, high, and low fuel price scenarios
Wind and solar capture prices by market bidding zone
Emission allowance prices and emissions
Guarantees of Origin (GO) market prices
Levelized cost of hydrogen (LCOH)

Report details

Detailed narrative reports for 33 individual countries and the comprehensive European region
Regulations and routes to market
Fuel markets
Generation and energy storage capacity
Assumptions and methodologies

Webinars and advisors