Record week on the day-ahead electricity market. Electricity prices were negative for a fifth of the time

Electricity prices on the day-ahead market fell deep into negative territory last week. On Sunday afternoon, the day-ahead market price was at its lowest level at least since 2015 (and very likely a record low over a much longer period). At 14:00, the electricity price reached -489 EUR/MWh. Negative prices began appearing as early as Wednesday last week, with nearly one-fifth of all quarter-hours during the week recording negative prices.

With sunny weather, negative electricity prices returned to the day-ahead market in full force. They occur most frequently at weekends, when electricity consumption in the country is generally lower. Last week, however, was exceptional in this respect.

The first negative prices appeared as early as Wednesday, and from then on prices fell below zero every day around noon until the end of the week. In total, prices were negative in 128 quarter-hours of the week (approximately 19 % of all quarter-hours). Including zero prices, the total would be 133, or roughly one-fifth of all quarter-hours last week.