European energy market prices went down in first week of June
In the first week of June, prices of most European electricity markets fell and some negative prices were registered, thanks to the decrease in demand and prices of gas and CO2, and to the increase of renewable energy production in some cases. However, prices rose in the Nord Pool and MIBEL markets, with the latter being the highest weekly price, something that did not happen since the first week of November. A record photovoltaic energy production was registered in Germany on June 3.
The weekend read: Outcompeting fossil fuels in the energy transition
Energy markets are not exactly free markets, and the replacement of existing generation is not entirely tied to price. There are artificial regulatory constructs and financial structures built into energy markets which can favor certain parties (utilities) and fuels (legacy coal, gas, and nuclear).
