Europe posts record negative power prices for 2024 as renewables rise

The number of periods when day-ahead power prices fell to zero or below hit a record 4,838 instances in Europe in 2024, driven by surging renewables, weak demand, and limited grid flexibility, says Montel Analytics. Europe recorded 4,838 periods of day-ahead power prices falling to zero or below in 2024, a record high driven by rising renewable generation, sluggish demand, and constrained grid flexibility, according to a new report from Montel Analytics. The total is nearly double the 2,442 instances that were recorded in 2023. The Oslo-based market intelligence firm said that the increase was ...

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