(Montel) Spot power prices in Sweden and Finland fell below zero for the first time ever for Monday, with a minimum of EUR -0.20/MWh between 01:00-2 CET, amid unseasonably mild, windy and wet weather.
The average price was even lower on Sunday, at EUR 7.99/MWh but hourly prices then stayed narrowly positive with a minimum of EUR 0.04/MWh.
Average wind power output in Sweden was forecast to reach 6.5 GW on Monday morning, well above the seasonal average of just under 3 GW, according to Montel’s Energy Quantified, while temperatures were forecast 9C higher than normal in the early hours.
Finnish area prices stood at EUR 7.99/MWh for Sunday and EUR 9.50/MWh on Monday.
Denmark’s two price zones also saw four hours of negative prices for Monday, with a minimum of EUR -2.68/MWh in hour 02:00-3 CET – though this is a much more common event due to the high share of wind in the power mix.
The Nordic system price hit EUR 10.09/MWh for Sunday and EUR 10.15/MWh on Monday – the lowest ever prices seen in February since 1999 when euro conversion rates were introduced. Until 2006 Nordic prices were nominated in Norwegian krone.
The previous low was EUR 10.99/MWh from 2 February 2000, according to figures from Nord Pool.
There were also negative prices in Germany amid near record high wind power output due to storm Sabine.