European power prices plunge to record negative rates
Updated
Updated · Bloomberg · Apr 30
European power prices plunge to record negative rates
8 articles · Updated · Bloomberg · Apr 30
German and French electricity for early afternoon delivery on Friday neared minus €500 per megawatt-hour, according to Epex Spot data.
Strong solar output coincided with public holidays across much of Europe, while lower industrial demand left surplus electricity in the system.
Prices have already turned negative around midday in several countries this week, and ANE GmbH & Co. KG expects the pattern to continue over the weekend.
With power prices at negative €500, why aren't Europeans being paid to use electricity?
Is Europe's green energy boom accidentally destroying the profitability of its own power market?