European Power Prices Turn Negative as Green Power Output Jumps
- German wind generation set to reach the highest in 4 months
- Negative prices mean there is more power supply than demand
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Power prices in several European markets fell below zero for Wednesday as wind and solar output is poised to jump and flood the grid with green electricity.
Germany’s day-ahead auction settled below zero for 6 individual hours on Tuesday, data from Epex Spot SE show. Wind generation in the nation is set to average 22.7 gigawatts on Wednesday, the highest in 4 months, according to Bloomberg models and data from ENTSO-E.