German power prices dropped below zero on the first trading day of the year, an increasingly frequent phenomenon in Europe as renewables expand.
Intraday prices in Germany, the region’s biggest market, turned negative during four hours overnight as wind-energy output reached as much as 40 gigawatts, far outstripping demand."
It also happened in the UK and I suspect other European countries with significant wind generation. Is this still a rare event in Germany? 2-3 times a month isn’t uncommon here. Especially in the winter.