- On June 25th 2024, due to technical issues, European day ahead auctions saw large fluctuations in prices clearing in the EPEX spot auction relative to results from Nordpool which remained in the single European day-ahead market coupling (SDAC).
- Decoupling of EPEX from SDAC meant that auctions had to be held locally rather having availability of cross-border capacity.
- Germany had average price of 494.02 €/MWh with some hours reaching prices as high as 2325.83 €/MWh. Germany has high solar output and without imports from other countries, it experienced market tightness during peak periods, where solar output is low.
- Average prices in France reached €2.92/MWh due to the abundance of nuclear generation available across the day.
- The incident highlights the importance of cross border trading in Europe to prevent significant price variations between countries.
EPEX glitch causes huge price volatility
