Strong wind and solar output is pushing power prices across Europe to negative levels as milder weather weakens demand.
Germany day-ahead prices dropped to the lowest level since 13 July, turning negative for 8 hours, data from Epex Spot show. Average weekly wind generation is forecast to total 14.7 gigawatts – more than double the 5-year average, according to Bloomberg models.
Prices in France, the Netherlands, Belgium and parts of the Nordic region are also trading negative.
Summer months usually see strong solar generation, but an uptick in wind is less common, highlighting the uncertainty surrounding renewable sources of electricity….
