State of European Power · November 2023
State of European Power — November 2023
Published 2023-12-02 · every figure recomputed live from the Voltcast production database (last: 2026-08-26T20:56Z) · reproduce any number via the API
18
negative price-hours across 46 zones in November 2023
222.47
average day-ahead price, €/MWh, across covered zones
2
zones that cleared below zero at least once
November 2023 closed with 18 negative price-hours across the 46 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 SE1 (average 52.88 €/MWh); the priciest was UA (4041.01 €/MWh) — a 3988 €/MWh gap between two markets inside one coupled European system, which is the whole story of constrained interconnection in one number.
FI logged the most negative hours (16), and the widest intra-month price range belonged to UA: from 200 to 7171.59 €/MWh (6971.59 €/MWh of spread — the raw material for every battery business case). The single deepest print of the month was -500.00 €/MWh in FI on 2023-11-24.
Every zone, one table
| Zone | Avg €/MWh | Min | Max | Negative hours |
|---|---|---|---|---|
| AL | 99.08 | 25.87 | 226.17 | 0 |
| AT | 93.52 | 2.89 | 251.89 | 0 |
| BE | 91.53 | 0.07 | 260.97 | 0 |
| BG | 102.89 | 0 | 259.96 | 0 |
| CH | 103.24 | -0.72 | 268.8 | 2 |
| CZ | 92.85 | 0.07 | 259.85 | 0 |
| DE-LU | 90.95 | 0.44 | 260.63 | 0 |
| DK1 | 88.21 | 0.07 | 261 | 0 |
| DK2 | 81.6 | 0.1 | 261 | 0 |
| EE | 105.34 | 3.4 | 777.18 | 0 |
| ES | 63.57 | 0 | 161.99 | 0 |
| FI | 69.77 | -500 | 777.18 | 16 |
| FR | 89.02 | 0.06 | 260.95 | 0 |
| GR | 105.46 | 0 | 259.96 | 0 |
| HR | 96.65 | 0.07 | 258.27 | 0 |
| HU | 99.43 | 0.07 | 298.32 | 0 |
| IE-SEM | 122.9 | 1.14 | 277.6 | 0 |
| IT-CALA | 119.03 | 0 | 235.74 | 0 |
| IT-CNOR | 124.88 | 3.8 | 258.4 | 0 |
| IT-CSUD | 121.16 | 0 | 235.74 | 0 |
| IT-NORD | 122.07 | 3.8 | 258.4 | 0 |
| IT-SARD | 119.99 | 0 | 235.74 | 0 |
| IT-SICI | 119.09 | 0 | 235.74 | 0 |
| IT-SUD | 119.03 | 0 | 235.74 | 0 |
| LT | 105.34 | 3.4 | 777.18 | 0 |
| LV | 105.34 | 3.4 | 777.18 | 0 |
| ME | 95.88 | 6.41 | 213.12 | 0 |
| MK | 103.39 | 5.6 | 243.93 | 0 |
| NL | 94.46 | 0.07 | 261 | 0 |
| NO1 | 88.86 | 5.9 | 259.86 | 0 |
| NO2 | 88.86 | 5.9 | 259.86 | 0 |
| NO3 | 55.47 | 10.17 | 182.39 | 0 |
| NO4 | 53.23 | 10.17 | 182.39 | 0 |
| NO5 | 88.87 | 10.41 | 259.86 | 0 |
| PL | 98.43 | 11.24 | 196.14 | 0 |
| PT | 63.38 | 0 | 161.99 | 0 |
| RO | 102.21 | 0 | 259.96 | 0 |
| RS | 96.12 | 1.01 | 239.26 | 0 |
| SE1 | 52.88 | 0.1 | 182.39 | 0 |
| SE2 | 56.15 | 0.1 | 182.39 | 0 |
| SE3 | 71.4 | 0.1 | 259.86 | 0 |
| SE4 | 73.69 | 0.1 | 259.86 | 0 |
| SI | 95.79 | 0.07 | 258.63 | 0 |
| SK | 96.01 | 0.07 | 259.54 | 0 |
| TR | 2065.52 | 12.34 | 2700 | 0 |
| UA | 4041.01 | 200 | 7171.59 | 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-2023-11".
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