European Power Prices Plunge Below Zero as Solar Output Booms
- Summer afternoons are seeing more negative power prices
- Renewable power push makes below-zero power more common
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Power prices in Europe dropped below zero to record-low levels during the weekend as a surge in solar generation pushed supply above demand.
With an increase in the number of solar panels across the region, power grids from Britain to France and Denmark are being overwhelmed by cheap supplies. Prices settled at -€500 a megawatt hour for some periods in Germany and the Netherlands in an auction for Sunday on Epex Spot SE. Several periods on Monday were negative too, a more unusual occurrence for a weekday when demand is higher.