State of European Power · February 2022

State of European Power — February 2022

Published 2022-03-02 · every figure recomputed live from the Voltcast production database (last: 2026-07-13T23:56Z) · reproduce any number via the API

25

negative price-hours across 41 zones in February 2022

148.35

average day-ahead price, €/MWh, across covered zones

2

zones that cleared below zero at least once

February 2022 closed with 25 negative price-hours across the 41 European bidding zones with full coverage this month — 2 of them cleared below zero at least once. Negative prices are no longer an anomaly; they are a structural feature of a grid where solar and wind routinely outrun demand.

The cheapest market of the month was NO4 (average 16.04 €/MWh); the priciest was IT-NORD (213.18 €/MWh) — a 197 €/MWh gap between two markets inside one coupled European system, which is the whole story of constrained interconnection in one number.

IE-SEM logged the most negative hours (14), and the widest intra-month price range belonged to IE-SEM: from -12.27 to 494.37 €/MWh (506.64 €/MWh of spread — the raw material for every battery business case). The single deepest print of the month was -91.87 €/MWh in DE-LU on 2022-02-01.

Every zone, one table

ZoneAvg €/MWhMinMaxNegative hours
AT 167.91 42.97 313.01 0
BE 162.64 -30 463.29 11
BG 187.54 6.06 364.07 0
CH 208.71 142.98 337.73 0
CZ 155.03 15.04 350 0
DE-LU 129.64 0.43 346.23 0
DK1 113.11 0 322.9 0
DK2 100.1 0.03 322.9 0
EE 104.59 10.24 322.9 0
ES 200.31 70 350 0
FI 80.85 10.24 266.9 0
FR 185.63 18.53 349 0
GR 211.73 83.65 349 0
HR 195.5 60.01 349 0
HU 194.29 31.87 460 0
IE-SEM 175.23 -12.27 494.37 14
IT-CALA 206.24 99 349 0
IT-CNOR 213.17 153.76 349 0
IT-CSUD 210.44 153.76 349 0
IT-NORD 213.18 153.76 349 0
IT-SARD 210.44 153.76 349 0
IT-SICI 205.54 75 349 0
IT-SUD 207.13 99 349 0
LT 104.67 10.24 322.9 0
LV 104.64 10.24 322.9 0
NL 168.29 0 410.08 0
NO1 119.77 75.62 236.17 0
NO2 119.77 75.62 236.17 0
NO3 17.94 9.05 206.51 0
NO4 16.04 9.05 206.51 0
NO5 119.47 75.62 208.13 0
PL 116.81 31.87 230 0
PT 200.81 70 350 0
RO 188.25 6.06 364.07 0
RS 198.8 91.77 315.37 0
SE1 24.48 8.89 243.72 0
SE2 24.48 8.89 243.72 0
SE3 73.3 8.89 266.9 0
SE4 79.29 8.89 322.9 0
SI 195.4 60.01 349 0
SK 171.37 15.04 460 0

Method & citation. Hourly means over all published day-ahead auction results per zone (native 15-minute periods averaged per hour); zones with under 20 reported days excluded. Sources: ENTSO-E Transparency Platform, SMARD (CC BY 4.0). Reproduce via GET /api/v1/prices/{zone}. Cite as "Voltcast Research, voltcast.com/research/state-of-european-power-2022-02".