European Power Plunges to Record Negative Prices on Solar Surge

European power prices slid to record lows for Friday, with hugely negative hourly rates in Germany and France, as strong solar generation coincides with public holidays across much of the region.

Hourly power prices neared minus €500 per megawatt-hour for early afternoon delivery, close to the lower limit on the Epex Spot exchange. This helped push down the French day-ahead price to -€41.4, the lowest ever. Hourly prices have turned negative across Europe this week, with strong solar generation expected likely to extend the trend as demand remains subdued.