Electricity prices in Europe have fallen below zero due to excess generation — Bloomberg
Solar power plants caused a sharp increase in electricity production, while demand remained low.
In Europe, electricity prices temporarily turned negative due to an excess of solar generation. The grid was unable to fully consume the generated energy, leading to this drop in prices.
This was reported by Bloomberg.
In Germany on Sunday from 1:00 p.m. to 2:00 p.m., the price of electricity fell to minus €413.77 per megawatt-hour. In France during the same period, it dropped to minus €412.55.
The cause was an excess of supply over demand. During peak hours, solar power plants in Germany generated up to 44 gigawatts of electricity. At the same time, consumption on the weekend was lower than usual.
Due to a lack of electricity storage capacity and grid constraints, the system was unable to fully utilize the surplus. Under such conditions, part of the generation must be curtailed, and prices fall below zero. Despite the sharp drop during the day, prices rose again in the evening, indicating high market volatility.
In France, to maintain grid stability, some nuclear reactors were kept online, even though generation volumes exceeded demand.
Experts note that such fluctuations are becoming increasingly frequent due to the rapid growth of renewable energy and insufficient infrastructure flexibility.
The situation is expected to temporarily stabilize as weather conditions change, but such crashes may recur during periods of high solar activity.
As a reminder, Ukrainianexperts have inspected power plants in the EU for the transfer of equipment.
Ukraineis surveying European thermal power plants to restore its energy sector.
Russianslaunched 69 missiles and about 260 drones at the Kremenchuk Oil Refinery, – Shmyhal
