https://fortune.com/2024/06/16/electricity-prices-france-negative-renewable-energy-supply-solar-power-wind-turbines/

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Finance*energy

Electricity prices in France turn negative as renewable energy floods
the grid

BYEamon Akil Farhat, Francois de Beaupuy and Bloomberg

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  *  
  *  
  *  

offshore wind turbines
An offshore wind farm in the Bay of Saint Brieuc, Brittany, France on
April 11.
Matthieu Delaty--Hans Lucas/AFP/Getty Images

French electricity prices turned negative as a drop in demand and
surging renewables output prompted some nuclear reactors to power
down.

Daily consumption from Thursday through Sunday is seen falling by an
average 6 gigawatts, a Bloomberg model shows. Sunny and blustery
weather has driven up solar and wind generation, prompting the grid
operator to request that Electricite de France SA take several
nuclear plants offline.

While more clean power is needed across Europe to reach climate
goals, soaring renewables output and a lack of battery storage mean
reactors sometimes have to be turned off during periods of low
demand. It's becoming increasingly common around weekends in France --
which gets about two-thirds of its electricity from its atomic fleet
-- and also occurs in the Nordic region and Spain.

EDF halted its Golfech 2, Cruas 2 and Tricastin 1 nuclear plants, and
plans to halt three others during the weekend. Some renewables
producers will also have to curb generation to avoid paying a fee
amid negative prices.

French day-ahead power fell to -EUR5.76 a megawatt-hour, the lowest in
four years, in an auction on Epex Spot. Germany's equivalent contract
dropped to EUR7.64.

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