To: Julius Wong who wrote (213924 ) 4/28/2025 9:28:02 PM From: TobagoJack Respond to of 217588 re <<Fuel-sipping >> ... imagine when gold mining companies' COGS go negative ...bloomberg.com European Power Prices Drop Far Below Zero as Solar Output Surges The EU's installed solar capacity roughly doubled between 2021 and 2024.Photographer: Angel Garcia/Bloomberg By Eva Brendel 28 April 2025 at 16:17 GMT+8 Updated on 28 April 2025 at 19:22 GMT+8 Power prices across Europe dropped below zero this weekend due to sunny weather and increased solar energy production. Summary by Bloomberg AI The drop in prices, which reached as low as -€266 per megawatt-hour in Belgium, highlights the need for large-scale battery storage to balance supply and demand. Summary by Bloomberg AI The European Union's installed solar capacity has roughly doubled between 2021 and 2024, contributing to the increase in negative power prices. Summary by Bloomberg AI Power prices across Europe plunged deep below zero this weekend as sunny weather boosted output from the region’s growing fleet of solar parks. The phenomenon of negative prices has become a regular occurrence over the past few years in the region, but levels far below zero are still unusual. In March, the number of negative hours doubled in Germany from a year earlier, according to Epex Spot SE data. Solar energy production typically soars in April with longer and sunnier days. That, combined with a dip in heating demand, pushes prices lower. The drop well below -€100 per megawatt-hour this weekend highlights the absence of large-scale battery storage in Europe to ease the supply-demand imbalance. Excess renewables output can be counterbalanced either by shifting demand from peak times to midday or by storing the electricity. Some new solar farms are built with a battery to head off this problem but more investment is needed. Solar Power Surged in Germany on Sunday Source: ENTSO-E In Belgium, rates dropped to as low as -€266 per megawatt-hour between 1 p.m. and 2 p.m. on Sunday. In the Netherlands, prices fell to -€189.90 and they plunged to -€129.81 in Germany, according to Epex. Contracts for the next month fell 2.8% to €65.95 per megawatt-hour on the European Energy Exchange AG. Matthias Apel, an analyst at industry consultant Ispex AG, attributed the drop to the latest change in weather forecasts, with cooler temperatures seen at the start of May. “This will likely be accompanied by higher wind generation,” he said. The European Union’s installed solar capacity roughly doubled between 2021 and 2024, particularly after the energy crisis highlighted the danger of relying on imported fossil fuels.