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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."

  • hubobesEnglish
    7·
    3 days ago

    The article says declining, not collapsed. The EU says it has to move quickly but with a potential shift (due to right-wing and conservative parties regaining power) from renewables to nuclear that could fail.

    I mean the reason for why this happened is clear, Europe always relied on cheap Russian gas which is, at least for people who have just a sliver of humanity, a no go and there is no cheap replacement except for renewables. I guess if the Germans would have invested in renewables earlier on this whole issue would not exist.