European Power Prices Fall Below Zero With Green Power Boom
- Consumers could be paid to consumer electricity Saturday
- Soaring renewable production sends power prices negative
Electricity transmission tower and wind turbines in Sevilla, Spain.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
Electricity prices across Europe are set to fall below zero this weekend as the continent experiences a surge of summer winds combined with the peak season for solar generation.
The sub-zero prices are a preview of what’s to come for European power markets if a flood of planned renewable power production isn’t met with a shift in demand. The hope is that eventually larger electric car fleets, smarter grids and better battery technology will catch up, but for now the mismatch is a headache for policy makers and companies.