Energy: Solar eclipse causes electricity price to rise sharply in Germany
Because significantly less solar power is generated during the partial solar eclipse, prices are significantly higher than usual on Wednesday evening. The effect is already visible now.
On Wednesday evening, when the Moon passes between the Earth and the Sun, it causes a significant impact on electricity prices in Germany. Due to the solar eclipse, considerably less solar power is generated, leading to the electricity price for Wednesday evening being several times the average level. The so-called Spot prices, or prices for short-term traded one-quarter hour electricity volumes in the European electricity exchange Epex, reach over 400 Euros per Megawatt-hour on Wednesday evening.
From 19:00 to 19:15, wholesale electricity already costs 210 Euros, and between 19:45 and 20:00, it even goes up to more than 460 Euros. The price drops back to around 230 Euros per Megawatt-hour by sunset, around 21:00. The prices are set for the following day in the so-called Day-Ahead auction. Large suppliers and consumers submit their offer and demand quantities, from which the price per one-quarter hour of the day is then determined.
Significant fluctuations are normal even without a solar eclipse: At noon on Tuesday, when there is a clear sky and large amounts of solar power are available, the Spot price is zero Euros. Between 19:45 and 20:00, the price then returns to 200 Euros per Megawatt-hour.
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