2023-07-02 15:02:06
Wholesale electricity prices in Belgium were mostly negative on Sunday. This is revealed by data from the power exchange Epex Spot. The reason is a surplus of electricity in Europe.
These are the prices that energy suppliers and large consumers, such as energy-intensive companies, paid yesterday/Saturday for electricity delivered today/Sunday (“day ahead”).
From 4 a.m. they were negative and will remain so until 7 p.m., with the exception of the hour between 12 p.m. and 1 p.m., when electricity is free (0.00 euros). The price bottoms out between 3 and 4 p.m., which is when customers receive up to 120 euros per megawatt hour they draw from the grid. Therefore, the average price for the whole day is also negative: -2.35 euros per megawatt hour.
According to energy trader Matthias Detremmerie, the low prices are due to a combination of circumstances. “It’s not too hot, there’s a lot of sun and a bit of wind“, he explains. This translates into a surplus of electricity throughout Europe on a Sunday holiday.”We usually get rid of our surplus electricity through neighboring countries, but today they are making the situation worse.“, explains Mr. Detremmerie. He is referring to the Netherlands, where the day-ahead price for today/Sunday is indicated at -500 euros per megawatt hour for several hours.
Day-ahead prices for tomorrow/Monday are slightly higher once more. It is only between 2 and 4 p.m. that we observe limited negative tariffs (-4.99 and -1.04 euros per MWh). The average price is 58.38 euros per megawatt hour.
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