Europe Heatwave Pushes Power Prices Below Zero as Solar Meets Nearly 50% of UK Demand
Updated
Updated · Euronews · Jun 1
Europe Heatwave Pushes Power Prices Below Zero as Solar Meets Nearly 50% of UK Demand
4 articles · Updated · Euronews · Jun 1
France’s hourly wholesale power prices fell below zero on May 26, while Britain saw solar cover almost half of electricity demand at midday on May 24 during record late-May heat.
32.2°C temperatures in London and a wider European heat dome boosted solar output beyond demand, prompting generators to underbid rather than shut plants because curtailment can cost more.
Spain logged 397 hours of negative prices in January-March, up from 48 a year earlier, while Portugal recorded 222 hours, underscoring how often oversupply is now hitting Europe’s market.
€70 billion a year of grid investment still trails need, with Ember warning more than 120 GW of planned renewables is at risk from weak transmission capacity and limited storage.
The heatwave also cut other clean-power sources: French wind output sank to about 0.5 GW on May 29 versus a 7.4 GW average this year, and solar panels lose roughly 0.4%-0.5% efficiency for every degree above 25°C.
Solar power is now free, so why are Europe's electricity bills still soaring?
Will giant batteries solve Europe's energy chaos or create a new resource crisis?
Europe’s 2026 Heatwave Drives Record Negative Electricity Prices: Causes, Impacts, and Solutions for a Renewable Future
Overview
In late May 2026, a major heatwave swept across Europe, bringing record-breaking temperatures and clear skies. These conditions boosted solar power generation but caused wind speeds to drop, leading to much lower wind energy output. This unusual mix created a paradox in the energy market: while solar energy was abundant, wind power was scarce. As a result, electricity supply exceeded demand, especially during public holidays, causing wholesale prices to fall below zero. This event highlights how extreme weather can disrupt the balance between renewable energy sources and market stability, revealing both opportunities and challenges for Europe's energy transition.