State of European Power · January 2024
State of European Power — January 2024
Published 2024-02-02 · every figure recomputed live from the Voltcast production database (last: 2026-08-24T12:55Z) · reproduce any number via the API
120
negative price-hours across 46 zones in January 2024
197.58
average day-ahead price, €/MWh, across covered zones
15
zones that cleared below zero at least once
January 2024 closed with 120 negative price-hours across the 46 European bidding zones with full coverage this month — 15 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 39.32 €/MWh); the priciest was UA (3376.66 €/MWh) — a 3337 €/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 (18), and the widest intra-month price range belonged to UA: from 10 to 7500 €/MWh (7490 €/MWh of spread — the raw material for every battery business case). The single deepest print of the month was -54.92 €/MWh in DE-LU on 2024-01-22.
Every zone, one table
| Zone | Avg €/MWh | Min | Max | Negative hours |
|---|---|---|---|---|
| AL | 90.51 | 22.97 | 165 | 0 |
| AT | 80.76 | -1.88 | 143.41 | 2 |
| BE | 78.63 | -3.25 | 144.11 | 12 |
| BG | 89.72 | 0.01 | 190.96 | 0 |
| CH | 84.01 | 8.24 | 143.05 | 0 |
| CZ | 83 | -0.01 | 148.44 | 2 |
| DE-LU | 76.31 | -2.38 | 146.1 | 18 |
| DK1 | 74.76 | -0.18 | 150.32 | 10 |
| DK2 | 78.19 | 1.6 | 526.25 | 0 |
| EE | 126.47 | -2.02 | 1896 | 1 |
| ES | 74.11 | 0.43 | 168.35 | 0 |
| FI | 106.16 | -2.07 | 1896 | 12 |
| FR | 76.66 | -0.05 | 144.11 | 8 |
| GR | 92.99 | 0.54 | 190.96 | 0 |
| HR | 84.09 | 0 | 148.58 | 0 |
| HU | 85.85 | 0 | 165.41 | 0 |
| IE-SEM | 99.9 | 0 | 304.36 | 0 |
| IT-CALA | 98.38 | 35.2 | 143.79 | 0 |
| IT-CNOR | 99.32 | 35.2 | 144.11 | 0 |
| IT-CSUD | 99.11 | 35.2 | 144.11 | 0 |
| IT-NORD | 99.32 | 35.2 | 144.11 | 0 |
| IT-SARD | 97.54 | 0 | 144.11 | 0 |
| IT-SICI | 98.38 | 35.2 | 143.79 | 0 |
| IT-SUD | 98.77 | 35.2 | 144.11 | 0 |
| LT | 117.39 | -2.02 | 1478.91 | 1 |
| LV | 117.15 | -2.02 | 1478.91 | 1 |
| ME | 89.05 | 11.32 | 149.4 | 0 |
| MK | 90.2 | 0 | 148.38 | 0 |
| NL | 78.43 | -5 | 147.06 | 13 |
| NO1 | 81.05 | 5.17 | 526.25 | 0 |
| NO2 | 76.06 | 5.17 | 148.72 | 0 |
| NO3 | 56.85 | 2.61 | 526.25 | 0 |
| NO4 | 39.32 | 2.61 | 126.06 | 0 |
| NO5 | 79.69 | 44.95 | 526.25 | 0 |
| PL | 93.48 | 32.05 | 160.15 | 0 |
| PT | 74.09 | 0.43 | 168.35 | 0 |
| RO | 87.79 | 0 | 190.96 | 0 |
| RS | 86.1 | 1.1 | 149.79 | 0 |
| SE1 | 57.68 | -2.07 | 526.25 | 4 |
| SE2 | 54.28 | -2.07 | 526.25 | 12 |
| SE3 | 71.2 | -2.07 | 526.25 | 12 |
| SE4 | 74.51 | -2.07 | 526.25 | 12 |
| SI | 83.13 | 0 | 147.12 | 0 |
| SK | 84.57 | 0 | 147.93 | 0 |
| TR | 1947.27 | 102.26 | 2700 | 0 |
| UA | 3376.66 | 10 | 7500 | 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-2024-01".
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