French electricity prices turned negative as a drop in demand and surging renewables output prompted some nuclear reactors to power down.
While more clean power is needed across Europe to reach climate goals, soaring renewables output and a lack of battery storage mean reactors sometimes have to be turned off during periods of low demand. It’s becoming increasingly common around weekends in France — which gets about two-thirds of its electricity from its atomic fleet — and also occurs in the Nordic region and Spain.
EDF halted its Golfech 2, Cruas 2 and Tricastin 1 nuclear plants, and plans to halt three others during the weekend. Some renewables producers will also have to curb generation to avoid paying a fee amid negative prices.
French day-ahead power fell to -€5.76 a megawatt-hour, the lowest in four years, in an auction on Epex Spot. Germany’s equivalent contract dropped to €7.64.