Energy: Solar eclipse causes electricity price to rise sharply in Germany

When the moon moves between the Earth and the sun on Wednesday evening, this also has a massive impact on electricity prices in Germany. Because the solar eclipse results in significantly less solar power being generated, the electricity price for Wednesday evening is at a multiple of the average level. The so-called spot prices, i.e. prices for short-term traded quarter-hour electricity quantities on the European electricity exchange EPEX, are more than 400 euros per megawatt-hour on Wednesday evening in some cases.

Between 19:00 and 19:15, wholesale electricity already costs 210 euros, and between 19:45 and 20:00 it costs as much as 460 euros. By sunset at around 21:00, the price then falls back to around 230 euros per megawatt-hour.

The electricity prices are determined for the following day at the so-called day-ahead auction. For this, large suppliers and consumers report their offer and demand quantities, from which the price for each quarter-hour of the day is then determined. Larger fluctuations are normal even without a solar eclipse: on Tuesday at noon, when large quantities of solar power are available with clear skies, the spot price is zero euros. Between 19:45 and 20:00, the price is then back at 200 euros per megawatt-hour.

Heat and low water levels are putting a strain on the electricity market

In this summer, the situation on the electricity market is already tense due to the high temperatures and low water levels. In several countries, individual reactors or entire power plants had to be taken offline because there was not enough cooling water available from the rivers. At noon, on the other hand, due to the growing solar capacities, there is sometimes so much energy available that the electricity price becomes negative and large consumers even receive money for taking it.

Because many people use electrical appliances mainly in the evening, the spot prices at this time are usually at their highest. However, such a significant fluctuation as during the solar eclipse is rare. The electricity prices were last higher this year on June 30, when a megawatt-hour cost more than 530 euros in the course of the evening.

For private individuals, who usually have contracts with fixed electricity prices, the ups and downs have no impact.