Northwest Europe Power Prices Plunge Below Zero on Strong Solar Output

The strongest solar power generation in Germany since September sent intraday power prices in Germany, Belgium, and the Netherlands to below zero for the early Monday afternoon, in yet another spate of negative prices that undermine investment in renewable energy capacity. With the strong German solar power output, the intraday prices for the hour from 1 p.m. to 2 p.m. plunged to minus -$18.55 (-17.73 euros) per megawatt-hour (MWh), per data from Epex Spot SE cited by Bloomberg. The interconnected power systems in northwest Europe also led to negative…