State of European Power · December 2022
State of European Power — December 2022
Published 2023-01-02 · every figure recomputed live from the Voltcast production database (last: 2026-07-13T23:52Z) · reproduce any number via the API
114
negative price-hours across 41 zones in December 2022
242.44
average day-ahead price, €/MWh, across covered zones
20
zones that cleared below zero at least once
December 2022 closed with 114 negative price-hours across the 41 European bidding zones with full coverage this month — 20 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 94.09 €/MWh); the priciest was IT-NORD (303.75 €/MWh) — a 210 €/MWh gap between two markets inside one coupled European system, which is the whole story of constrained interconnection in one number.
DE-LU logged the most negative hours (26), and the widest intra-month price range belonged to FR: from -1.44 to 753 €/MWh (754.44 €/MWh of spread — the raw material for every battery business case). The single deepest print of the month was -139.96 €/MWh in DE-LU on 2022-12-19.
Every zone, one table
| Zone | Avg €/MWh | Min | Max | Negative hours |
|---|---|---|---|---|
| AT | 265 | -4.52 | 610.05 | 3 |
| BE | 268.88 | -4.39 | 665.01 | 11 |
| BG | 246.56 | 0.17 | 708.58 | 0 |
| CH | 279.69 | 0.03 | 581.72 | 0 |
| CZ | 250.42 | -22.45 | 665.01 | 8 |
| DE-LU | 250.81 | -11.29 | 614.69 | 26 |
| DK1 | 249.28 | -2.18 | 665.01 | 10 |
| DK2 | 248.5 | -0.04 | 665.01 | 3 |
| EE | 263.05 | -0.04 | 665.01 | 2 |
| ES | 96.75 | 0 | 256.68 | 0 |
| FI | 245.6 | -0.04 | 665.01 | 3 |
| FR | 270.49 | -1.44 | 753 | 4 |
| GR | 276.97 | -0.01 | 600.1 | 1 |
| HR | 246.37 | -50.1 | 665.01 | 5 |
| HU | 260.78 | 0.02 | 665.01 | 0 |
| IE-SEM | 276.52 | -30 | 581.07 | 9 |
| IT-CALA | 268.55 | 17.9 | 505 | 0 |
| IT-CNOR | 303.75 | 17.9 | 605.7 | 0 |
| IT-CSUD | 281.48 | 17.9 | 600.1 | 0 |
| IT-NORD | 303.75 | 17.9 | 605.7 | 0 |
| IT-SARD | 264.57 | 0 | 600.1 | 0 |
| IT-SICI | 267.52 | 17.9 | 505 | 0 |
| IT-SUD | 279.83 | 17.9 | 600.1 | 0 |
| LT | 263.88 | -0.04 | 665.01 | 2 |
| LV | 263.51 | -0.04 | 665.01 | 2 |
| NL | 258.49 | -3.61 | 665.01 | 11 |
| NO1 | 256.97 | 1.77 | 665.01 | 0 |
| NO2 | 256.97 | 1.77 | 665.01 | 0 |
| NO3 | 173.55 | 17.18 | 590 | 0 |
| NO4 | 94.09 | 17.18 | 504.8 | 0 |
| NO5 | 257.78 | 59 | 665.01 | 0 |
| PL | 173.55 | 16.33 | 285.75 | 0 |
| PT | 96.35 | 0 | 256.68 | 0 |
| RO | 247.59 | 0.17 | 708.58 | 0 |
| RS | 241.43 | 0.98 | 615.7 | 0 |
| SE1 | 187.86 | -0.04 | 590 | 3 |
| SE2 | 187.93 | -0.04 | 590 | 3 |
| SE3 | 245.46 | -0.04 | 665.01 | 3 |
| SE4 | 247.68 | -0.04 | 665.01 | 3 |
| SI | 264.25 | 0.01 | 665.01 | 0 |
| SK | 257.7 | -10 | 665.01 | 2 |
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-2022-12".