Wind, Solar and Electricity Prices in Europe, 2026
Across 39 European bidding zones with data to 2026-11-04 (4 November 2026), 32 showed a negative correlation between the daily wind and solar share of generation and the day-ahead price. The strongest was Denmark West (DK1) (-0.73) and the weakest North Macedonia (+0.27). Correlation is not causation. Each zone is measured over its own window of daily data, at the latest to 2026-11-04 (4 November 2026).
Key Facts
- Across 39 European bidding zones with data to 2026-11-04 (4 November 2026), 32 showed a negative correlation between the daily wind and solar share of generation and the day-ahead price. The strongest was Denmark West (DK1) (-0.73) and the weakest North Macedonia (+0.27). Correlation is not causation.
- 32 of 39 zones had a negative correlation and 7 a positive one, over windows that end between 2026-10-18 (18 October 2026) and 2026-11-04 (4 November 2026).
- Lithuania had the highest average wind and solar share of daily generation, 78%, over 295 days to 2026-11-04 (4 November 2026).
- Denmark West (DK1) had the strongest negative link (-0.73): a strong tendency for days with more wind and solar to have lower average prices.
How to Read This
For every day in a zone's window we take the share of that day's electricity generation that came from wind and solar, and the day-ahead price averaged over that day. We then compare the average price on the quarter of days with the highest share against the quarter with the lowest share, and compute a Pearson correlation between the two daily series. A correlation of -1 means the price always falls as the share rises, +1 that it always rises, and 0 that there is no straight line relationship.
Correlation is not causation. Wind and solar output moves with the season, the weather and demand, and so do gas prices, imports and holidays, so a link between the two can reflect all of those together. These are daily figures: they say nothing about individual hours, and a zone with a weak daily correlation can still have very low prices in the windiest or sunniest hours. Prices are in each zone's own currency per MWh and are never converted, so the ranking below compares correlation coefficients only, not price levels.
Zones with fewer than 120 usable days, or whose data stopped more than a month before the newest day, are left out. A day is skipped when a price, wind or solar reading is missing or zero, or when reported generation is under 60 percent of demand.
Correlation by Bidding Zone
Strongest negative first, 39 zones| # | Bidding zone | Correlation | Average wind and solar share | Price, highest share quarter | Price, lowest share quarter | Days | Window |
|---|---|---|---|---|---|---|---|
| 1 | Denmark West (DK1) | -0.73 | 78% | EUR 64.75/MWh | EUR 145.48/MWh | 302 | 2025-10-03 to 2026-10-29 |
| 2 | Estonia | -0.72 | 61% | EUR 38.08/MWh | EUR 124.53/MWh | 166 | 2025-10-07 to 2026-10-18 |
| 3 | Sweden North-Central (SE2) | -0.67 | 33% | EUR 9.39/MWh | EUR 78.42/MWh | 398 | 2025-10-03 to 2026-11-04 |
| 4 | Finland | -0.66 | 28% | EUR 16.33/MWh | EUR 102.89/MWh | 381 | 2025-10-03 to 2026-11-04 |
| 5 | Sweden North (SE1) | -0.61 | 27% | EUR 9.57/MWh | EUR 74.32/MWh | 398 | 2025-10-03 to 2026-11-04 |
| 6 | Sweden South-Central (SE3) | -0.60 | 20% | EUR 36.25/MWh | EUR 97.67/MWh | 389 | 2025-10-03 to 2026-11-04 |
| 7 | Lithuania | -0.60 | 78% | EUR 50.90/MWh | EUR 130.34/MWh | 295 | 2025-10-04 to 2026-11-04 |
| 8 | Germany and Luxembourg | -0.59 | 50% | EUR 71.43/MWh | EUR 138.15/MWh | 397 | 2025-10-03 to 2026-11-03 |
| 9 | Poland | -0.48 | 26% | EUR 95.25/MWh | EUR 150.43/MWh | 393 | 2025-10-03 to 2026-11-04 |
| 10 | Netherlands | -0.45 | 22% | EUR 80.52/MWh | EUR 132.93/MWh | 394 | 2025-10-03 to 2026-11-04 |
| 11 | Denmark East (DK2) | -0.42 | 60% | EUR 80.00/MWh | EUR 123.98/MWh | 219 | 2025-10-03 to 2026-10-29 |
| 12 | Norway North (NO4) | -0.42 | 13% | EUR 13.26/MWh | EUR 49.20/MWh | 394 | 2025-10-03 to 2026-11-04 |
| 13 | Italy Calabria | -0.38 | 23% | EUR 116.84/MWh | EUR 155.56/MWh | 398 | 2025-10-03 to 2026-11-04 |
| 14 | Spain | -0.38 | 45% | EUR 53.77/MWh | EUR 105.20/MWh | 392 | 2025-10-03 to 2026-11-04 |
| 15 | Switzerland | -0.37 | 12% | EUR 98.85/MWh | EUR 136.12/MWh | 353 | 2025-10-03 to 2026-11-04 |
| 16 | Latvia | -0.36 | 31% | EUR 89.12/MWh | EUR 150.02/MWh | 325 | 2025-10-03 to 2026-11-04 |
| 17 | Italy Sicily | -0.32 | 60% | EUR 116.79/MWh | EUR 162.67/MWh | 340 | 2025-10-03 to 2026-11-04 |
| 18 | Czechia | -0.30 | 8% | EUR 98.35/MWh | EUR 131.30/MWh | 396 | 2025-10-03 to 2026-11-04 |
| 19 | Norway Central (NO3) | -0.29 | 26% | EUR 63.85/MWh | EUR 88.64/MWh | 380 | 2025-10-03 to 2026-11-04 |
| 20 | Norway South-West (NO2) | -0.27 | 9% | EUR 90.58/MWh | EUR 112.91/MWh | 389 | 2025-10-03 to 2026-11-04 |
| 21 | Italy South | -0.26 | 47% | EUR 118.76/MWh | EUR 145.31/MWh | 368 | 2025-10-03 to 2026-11-04 |
| 22 | Italy Centre-South | -0.22 | 39% | EUR 120.87/MWh | EUR 150.27/MWh | 240 | 2025-11-03 to 2026-11-04 |
| 23 | Italy Sardinia | -0.21 | 34% | EUR 120.38/MWh | EUR 138.27/MWh | 367 | 2025-10-03 to 2026-11-04 |
| 24 | Austria | -0.18 | 30% | EUR 116.67/MWh | EUR 135.82/MWh | 393 | 2025-10-03 to 2026-11-04 |
| 25 | Serbia | -0.13 | 5% | EUR 105.77/MWh | EUR 118.49/MWh | 395 | 2025-10-03 to 2026-11-04 |
| 26 | Italy Centre-North | -0.11 | 20% | EUR 129.56/MWh | EUR 128.51/MWh | 226 | 2025-10-03 to 2026-11-01 |
| 27 | Slovakia | -0.10 | 2% | EUR 117.36/MWh | EUR 129.96/MWh | 375 | 2025-10-03 to 2026-11-04 |
| 28 | Hungary | -0.09 | 24% | EUR 128.08/MWh | EUR 137.23/MWh | 372 | 2025-10-03 to 2026-11-04 |
| 29 | Portugal | -0.08 | 46% | EUR 65.79/MWh | EUR 79.38/MWh | 354 | 2025-10-02 to 2026-11-04 |
| 30 | Greece | -0.05 | 48% | EUR 101.45/MWh | EUR 116.73/MWh | 344 | 2025-10-03 to 2026-10-29 |
| 31 | Italy North | -0.04 | 12% | EUR 138.97/MWh | EUR 135.40/MWh | 353 | 2025-10-04 to 2026-11-04 |
| 32 | Belgium | -0.01 | 19% | EUR 123.95/MWh | EUR 116.12/MWh | 146 | 2025-10-07 to 2026-11-04 |
| 33 | Slovenia | +0.01 | 14% | EUR 127.91/MWh | EUR 126.48/MWh | 370 | 2025-10-06 to 2026-11-04 |
| 34 | Bulgaria | +0.06 | 23% | EUR 140.16/MWh | EUR 128.31/MWh | 397 | 2025-10-03 to 2026-11-04 |
| 35 | Montenegro | +0.07 | 12% | EUR 131.80/MWh | EUR 114.04/MWh | 329 | 2025-10-14 to 2026-10-30 |
| 36 | France | +0.15 | 8% | EUR 102.89/MWh | EUR 77.73/MWh | 394 | 2025-10-03 to 2026-11-04 |
| 37 | Croatia | +0.16 | 33% | EUR 146.67/MWh | EUR 128.02/MWh | 232 | 2025-10-03 to 2026-11-04 |
| 38 | Romania | +0.25 | 23% | EUR 156.05/MWh | EUR 126.26/MWh | 380 | 2025-10-03 to 2026-11-04 |
| 39 | North Macedonia | +0.27 | 4% | EUR 144.36/MWh | EUR 115.49/MWh | 370 | 2025-10-03 to 2026-11-04 |
Ranked by correlation, from Denmark West (DK1) (-0.73) to North Macedonia (+0.27). Prices are in each zone's own currency and are not comparable between rows; only the correlation column is.
Source: ENTSO-E Transparency Platform (transparency.entsoe.eu), CC BY 4.0. Aggregated and converted by World Power Monitor; ENTSO-E does not endorse this site. (ENTSO-E Terms of Use plus CC BY 4.0 for listed data items) Data as of 2026-11-04. Shares and correlations are computed by World Power Monitor from ENTSO-E daily generation and day-ahead prices.
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Cite this page
World Power Monitor. (2026). Wind, Solar and Electricity Prices in Europe. https://worldpowermonitor.com/prices/renewables/
World Power Monitor. Wind, Solar and Electricity Prices in Europe. Data as of 2026-11-04. Data from ENTSO-E Transparency Platform. https://worldpowermonitor.com/prices/renewables/
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title = {{Wind, Solar and Electricity Prices in Europe}},
author = {{World Power Monitor}},
year = {2026},
note = {Data as of 2026-11-04. Data from ENTSO-E Transparency Platform.},
url = {https://worldpowermonitor.com/prices/renewables/}
} Permalink: https://worldpowermonitor.com/prices/renewables/
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