Over the weekend across Europe power prices reached negative levels, driven by excellent wind and solar conditions. This isn’t the first time this has happened, but this occasion had remarkable intensity. In Germany negative prices dove steeply as far as 500 €/MWh at 2pm on Sunday, with two much less dramatic but still multi-hour negative price periods on Monday and Wednesday. In the June version of the below graph, negative prices occurred five times but never got below 40 €/MWh – nor did they ever break that barrier at any time in 2022. The year before that, 2021, did see multiple negative Day-Ahead auction prices in excess of that threshold – but the “Sunday negative 500 €/MWh” incident is a…