Power prices in France turned negative amid tepid demand and increased renewable energy generation.
Power prices in France turned negative for hours on Tuesday morning amid tepid demand in a struggling economy and increased renewables generation. French intraday power prices traded at as low as -$22.25 -20 euros per megawatt-hour MWh on the Epex Spot exchange, according to data compiled by Bloomberg. So far this year, France ’s power demand has been undershooting projections by grid operator RTE as the French and European economies are seeing little – if any – growth.
Negative pricing occurs when there is more electricity supply than demand, a scenario becoming more frequent as Europe continues its aggressive push toward renewable energy. The number of tradable hours in which power prices were zero or negative have jumped so far this year in major wholesale power markets, including Germany, France, the Netherlands, Spain, Finland, and southern Sweden, per LSEG data cited by Reuters.
Power Prices Negative Prices Renewable Energy Electricity Demand Nuclear Energy Epex Spot Wholesale Power Market Energy Storage Grid Operator
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