Renewables push proves challenging for Germany

An abundance of renewables capacity in Germany has caused extreme price movements, pushing volatility and trading activity increasingly towards short-term markets – forcing physical and financial market players to rethink their approach to electricity trading. Gillian Carr reports

German power - renewables capacity

On December 25, 2012, German power traders woke up to find that their world had been turned, if not upside down, then at least negative. For the first time since 2009, the average of German day-ahead base-load power contracts cleared at negative prices, reaching –€56.87 (–$73.87) per megawatt hour (/MWh) on Paris-based exchange Epex Spot (see figure 1). In the intra-day power market, prices were even more extreme, with some time periods trading at –€500/MWh (see figure 2).

A combination of

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here