Spot prices exceeded 800 euros per MWh on the afternoon of 6 November

Spot prices in Germany reached record levels, exceeding 800 euros per megawatt-hour on Wednesday 6 November between 5pm and 6pm. In France, prices also rose, but did not exceed 200 euros per megawatt-hour. The very sharp rise in German prices can be explained by the almost total absence of wind, with wind production 20 times lower than normal. To meet demand, German electricity companies had to start up thermal power stations at short notice, including 700 MW of oil-fired plants. The risk of failure drove prices to record levels. The closure of nuclear power stations and a large number of coal-fired plants reduced the available base load capacity, increasing dependence on intermittent renewable energies.