German energy market records 78 hours of negative prices in May
- Admin
- Jun 4, 2024
- 1 min read
In May, the day-ahead electricity spot market in the Germany/Luxembourg region achieved an average price of €6.72/kWh. Rabot Charge mentioned the data from Fraunhofer ISE's 'Energy Charts'. The report highlighted that the average day-ahead trading price was below the 8% mark for six consecutive months, with 78 hours of negative electricity prices in May. Despite the increase from April, the May average price was 7.7% higher at €6.24/kWh. Rabot Charge also offered slightly lower prices for its customers, stating a working price of €27.66/kWh in May. The analysis attributed the low energy prices to a high proportion of renewable energy, with photovoltaics contributing 24.2% and wind power only 21.4% in May.
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