In April 2026, European day-ahead electricity markets experienced severe negative prices, driven by massive solar generation and low weekend demand. Hourly wholesale prices on the EPEX Spot SE exchange fell to record lows of -€413.77/MWh in Germany and -€412.55/MWh in France.
These events reflect a growing structural imbalance: renewable capacity — especially solar and wind — is expanding rapidly, while electricity consumption across Europe remains largely flat. This imbalance is further exacerbated by limited system flexibility. A shortage of localized Battery Energy Storage Systems (BESS), combined with cross-border transmission bottlenecks, restricts the ability to redistribute or store surplus electricity.
According to the Ember think-tank, global solar power generation grew by 636 TWh last year (+30% year-on-year) and has increased more than tenfold since 2015. In the EU in 2025, wind and solar power generated a record 30% of electricity, surpassing fossil fuels at 29%.