Europe’s negative electricity price hours double in Q1 amid renewables surpluses, market imbalances

AI Summary

The EU electricity price market experienced an unprecedented rise, reaching 1,223 negative-price hours in the first quarter of 2026, a doubling from the previous year. This surge has been attributed to factors such as renewables oversupply and market imbalances.

UK-based consultancy Ricardo, part of the WSP Group, reports that EU-27 day-ahead power markets saw 1,223 negative-price hours in Q1 2026, more than double Q1 2025, driven mainly by Spain, Portugal, and Greece, while Nordic markets fell back to zero after prior spikes. Germany’s April 2026 data shows negative prices aligning with large renewable forecast errors and likely curtailment during oversupply periods.