Negative Power Prices Hit Europe as Renewable Energy Floods the Grid

European power markets are experiencing a notable shift as renewable energy sources, particularly wind and solar, become a larger part of the energy mix. On Wednesday, power prices in several European markets, including Germany, dipped below zero due to a surge in green electricity production. In Germany, wind generation is expected to hit 22.7 gigawatts, the highest level in four months. This spike in renewable output has overwhelmed the grid, leading to negative prices during six separate hours on Tuesday, as recorded by Epex Spot SE. Negative…