Spot prices for electricity in Germany fell to negative values, minus €17.73 per 1 MWh. This is reported by Bloomberg with reference to data from the Epex Spot SE electricity exchange.
According to its data, prices also fell below zero today in the Netherlands and Belgium.
This drop in prices is due to the growth in production of solar power plants after a seasonal decline in winter. Solar power plants in Germany generated 39.9 GW of electricity today – the maximum since September 21. In the past few days, multi-month highs have been reached in other countries: a record 15.6 GW in France on Sunday, 9 GW in the UK on Saturday (the maximum since September 18).
At the end of last year, almost half (47%) of all electricity in the EU was produced from renewable sources. Solar power plants account for about 11% of all electricity production.
