State of European Power · May 2024
State of European Power — May 2024
Published 2024-06-02 · every figure recomputed live from the Voltcast production database (last: 2026-08-24T12:55Z) · reproduce any number via the API
1,554
negative price-hours across 47 zones in May 2024
188.5
average day-ahead price, €/MWh, across covered zones
33
zones that cleared below zero at least once
May 2024 closed with 1,554 negative price-hours across the 47 European bidding zones with full coverage this month — 33 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 SE2 (average 15.08 €/MWh); the priciest was UA (3943.91 €/MWh) — a 3929 €/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 (96), and the widest intra-month price range belonged to UA: from 40 to 7500 €/MWh (7460 €/MWh of spread — the raw material for every battery business case). The single deepest print of the month was -500.00 €/MWh in AL on 2024-05-06.
Every zone, one table
| Zone | Avg €/MWh | Min | Max | Negative hours |
|---|---|---|---|---|
| AL | 70.26 | -500 | 215 | 6 |
| AT | 64.18 | -112.64 | 187.59 | 58 |
| BE | 54.45 | -138.76 | 147.15 | 64 |
| BG | 82.29 | -0.97 | 208.06 | 4 |
| CH | 62.05 | -145.12 | 137.83 | 48 |
| CZ | 69.03 | -138.75 | 208.44 | 72 |
| DE-LU | 67.48 | -112.44 | 200.01 | 62 |
| DK1 | 58.62 | -28.81 | 175.74 | 75 |
| DK2 | 58.26 | -15.07 | 221.46 | 59 |
| EE | 76 | -7.41 | 500.05 | 36 |
| ES | 30.32 | -1.29 | 120 | 35 |
| FI | 35.07 | -15.07 | 397.98 | 96 |
| FR | 27.09 | -87.29 | 115.92 | 60 |
| GR | 81.21 | 0 | 192.2 | 0 |
| HR | 74.6 | -100.71 | 200.56 | 32 |
| HU | 72.28 | -149.98 | 210.84 | 77 |
| IE-SEM | 107.79 | 29 | 193 | 0 |
| IT-CALA | 94 | 0 | 180 | 0 |
| IT-CNOR | 95.55 | 2.06 | 158 | 0 |
| IT-CSUD | 95.67 | 2.06 | 180 | 0 |
| IT-NORD | 94.19 | 2.06 | 158 | 0 |
| IT-SARD | 91.67 | 0 | 180 | 0 |
| IT-SICI | 100.6 | 0 | 228.2 | 0 |
| IT-SUD | 94 | 0 | 180 | 0 |
| LT | 76 | -7.41 | 500.05 | 36 |
| LV | 76 | -7.41 | 500.05 | 36 |
| ME | 80.77 | 0 | 161 | 0 |
| MK | 78.55 | 0 | 170.86 | 0 |
| NL | 65.7 | -200 | 165.41 | 74 |
| NO1 | 32.07 | -15.07 | 115.51 | 38 |
| NO2 | 41.54 | -15.07 | 133.54 | 38 |
| NO3 | 18.69 | -0.08 | 55.6 | 5 |
| NO4 | 18.68 | -0.08 | 55.6 | 5 |
| NO5 | 32.56 | -12.99 | 115.51 | 38 |
| PL | 85.63 | -24.74 | 158.02 | 31 |
| PT | 30.65 | -0.66 | 120 | 27 |
| RO | 81.77 | -106.36 | 208.06 | 9 |
| RS | 81.23 | 0 | 180.05 | 0 |
| SE1 | 15.7 | -15.07 | 55.6 | 80 |
| SE2 | 15.08 | -15.07 | 55.6 | 80 |
| SE3 | 20.31 | -15.07 | 134.42 | 78 |
| SE4 | 43.67 | -15.07 | 209.46 | 73 |
| SI | 73.17 | -105.88 | 212.52 | 42 |
| SK | 70.95 | -146.13 | 209.07 | 74 |
| TR | 2049.8 | 10.01 | 2700 | 0 |
| UA | 3943.91 | 40 | 7500 | 0 |
| XK | 70.26 | -500 | 215 | 6 |
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-2024-05".
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