Europe's Negative Power Prices Highlight the Need for Energy Storage Investment

📆 21/06/2024 08:30:00
📰 OilandEnergy

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Europe Notícia

Electricity,Power,Power Prices

Negative wholesale power prices in Europe have highlighted the need for investment in energy storage to balance a mismatch between supply and demand.

European wholesale electricity markets have seen zero or negative power prices for the most hours on record this year amid soaring renewable energy generation and a mismatch between supply and demand hours for solar power.

However, solar power producers have started to see slowing investment in capacity, Spain’s renewable energy association says, as negative prices have become more common in the country’s wholesale power market this year. “It is not something that worries us at the moment. What does worry us is that it will be repeated or can be repeated over time,” José María González Moya, director general of renewable lobby APPA Renovables, told Reuters.

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