Average retail prices fell to €6.24 ($6.70)/MWh on the German electricity spot market in April, largely due to renewables covering about 70% of the network load.
The trend in average electricity prices on the German spot market continues to point downwards.
According to new figures from Rabot Charge, a provider of dynamic electricity tariffs, the average electricity price was €6.24 ($6.70)/MWh in April. This is the second lowest value in 16 months. Only in February was the average electricity price on the spot market slightly lower, at €6.13/MWh.
These low price levels in the electricity market can be attributed to the high shares of renewables in Germany. According to Rabot Charge, renewable energy systems covered 70% of the network load in April.
However, the high renewables share also determines negative prices. According to Rabot Charge, there were 50 hours of negative electricity prices on the spot market in April. The negative prices in April 2024 reached values of more than -€0.05/MWh at times. On the other hand, there are also periods of high prices, as the graphic shows, with average electricity prices reaching around €.020/MWh.
When electricity prices are dynamic, end consumers benefit directly from developments in the electricity exchange. However, they also have to pay taxes, duties, and network fees.
With Rabot Charge, customers with a dynamic electricity tariff paid an average labor price of €0.2785/MWh. By shifting their consumption to a time when electricity prices are low, they could also save additional costs.
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