French Power Glut Sends Spring Prices to Lowest Since 2020

French electricity prices fell to their lowest level in six years as a growing supply glut leaves the country struggling to export excess power in the coming months.

Contracts for delivery in the next quarter fell to as low as €21.10 a megawatt-hour on the European Energy Exchange AG, the weakest level in six years. Prices in Spain are also sliding sharply as surging wind and solar generation floods the grids.