Electricity prices plunged deep into negative territory over the weekend

Electricity prices on European spot markets plunged deep below zero over the past weekend. Strong output from solar power plants and low weekend demand drove electricity prices down to hundreds of euros below zero. Belgium recorded the steepest fall, but prices also collapsed on the Czech market, dropping below -200 EUR/MWh.

The occurrence of negative electricity prices on spot markets has long been a phenomenon in Europe. In recent years, negative or zero prices have occurred ever more frequently, with last year being a record by far. On the Czech day-ahead market alone, a total of 314 hours with negative electricity prices were recorded last year (up 134 % year-on-year), along with 47 hours with zero electricity prices (up 113 % year-on-year).

Electricity prices fall to zero or even into negative territory primarily during periods of strong solar power generation. This year is no exception, with zero or negative prices concentrated in the hours around noon.

Similar situations traditionally occurred during holidays, particularly Easter. However, as installed solar capacity has gradually grown, negative prices have long ceased to be confined to holiday periods. The past weekend was another example, as prices for delivery around the peak of solar generation collapsed completely. They fell to their lowest during Sunday afternoon, between 13:00 and 14:00.

Electricity prices across European spot markets on Sunday, 11 May 2025, between 13:00 and 14:00. Source: Energostat

Spot electricity prices fell the lowest in Belgium, reaching -462,33 EUR/MWh. On Sunday, this led to curtailments of conventional generation, including at nuclear power plants in Belgium and neighbouring France.

Negative prices also hit the Czech Republic

The situation was similar across central and western European markets, including the Czech Republic. Prices on the Czech spot market fell into negative territory for delivery on both the previous Saturday and Sunday. While prices dropped slightly below -100 EUR/MWh on Saturday, they plunged as far as -224,49 EUR/MWh during the early Sunday afternoon.