Duration curves for negative wholesale electricity prices in selected regions, 2024

Notes

Southern California corresponds to the SP15 area. Five-minute price intervals in Victoria were converted to hourly averages for comparison. The y-axes of the figures are limited to USD -200/MWh for ease of visual interpretation. Following the guidance decision from the EU regulator Agency for the Cooperation of Energy Regulators (ACER) in January 2023, the minimum allowed clearing prices for day-ahead markets across Europe have been standardised at EUR -500/MWh. On 24 November 2023, prices in Finland reached the lowest limit of EUR -500/MWh for ten hours due to a bidding error. Excluding that, the lowest negative price was EUR -60/MWh. In 2023, the lowest negative price in Houston, Texas was USD ‑84/MWh, in Southern California USD -19/MWh, in Germany EUR -258/MWh, and in Victoria AUD -461/MWh. In 2024, the lowest negative price in Finland was EUR -20/MWh, in Houston, Texas USD -32/MWh, in Southern California USD ‑67/MWh, in Germany EUR -136/MWh, and in Victoria AUD -382/MWh.