Wind, Solar and Electricity Prices in Europe, 2026
Across 39 European bidding zones with data to 2026-10-27 (27 October 2026), 30 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 (+0.23). Correlation is not causation. Each zone is measured over its own window of daily data, at the latest to 2026-10-27 (27 October 2026).
Key Facts
- Across 39 European bidding zones with data to 2026-10-27 (27 October 2026), 30 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 (+0.23). Correlation is not causation.
- 30 of 39 zones had a negative correlation and 9 a positive one, over windows that end between 2026-10-18 (18 October 2026) and 2026-10-27 (27 October 2026).
- Lithuania had the highest average wind and solar share of daily generation, 78%, over 297 days to 2026-10-27 (27 October 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 64.71/MWh | EUR 142.37/MWh | 306 | 2025-09-25 to 2026-10-21 |
| 2 | Estonia | -0.71 | 61% | EUR 38.28/MWh | EUR 122.24/MWh | 168 | 2025-09-27 to 2026-10-18 |
| 3 | Sweden North-Central (SE2) | -0.66 | 32% | EUR 9.20/MWh | EUR 77.81/MWh | 398 | 2025-09-25 to 2026-10-27 |
| 4 | Finland | -0.65 | 28% | EUR 15.44/MWh | EUR 101.63/MWh | 380 | 2025-09-25 to 2026-10-27 |
| 5 | Sweden South-Central (SE3) | -0.62 | 19% | EUR 36.25/MWh | EUR 96.25/MWh | 389 | 2025-09-25 to 2026-10-27 |
| 6 | Sweden North (SE1) | -0.61 | 26% | EUR 9.74/MWh | EUR 74.32/MWh | 398 | 2025-09-25 to 2026-10-27 |
| 7 | Lithuania | -0.59 | 78% | EUR 51.75/MWh | EUR 128.29/MWh | 297 | 2025-09-28 to 2026-10-27 |
| 8 | Germany and Luxembourg | -0.56 | 50% | EUR 71.18/MWh | EUR 129.32/MWh | 399 | 2025-09-24 to 2026-10-27 |
| 9 | Netherlands | -0.46 | 22% | EUR 80.37/MWh | EUR 126.17/MWh | 395 | 2025-09-24 to 2026-10-27 |
| 10 | Poland | -0.46 | 27% | EUR 94.06/MWh | EUR 139.20/MWh | 393 | 2025-09-25 to 2026-10-27 |
| 11 | Norway North (NO4) | -0.42 | 13% | EUR 13.30/MWh | EUR 49.37/MWh | 394 | 2025-09-25 to 2026-10-27 |
| 12 | Denmark East (DK2) | -0.41 | 60% | EUR 79.94/MWh | EUR 122.44/MWh | 221 | 2025-09-25 to 2026-10-21 |
| 13 | Italy Calabria | -0.39 | 23% | EUR 114.29/MWh | EUR 150.77/MWh | 399 | 2025-09-24 to 2026-10-27 |
| 14 | Spain | -0.37 | 45% | EUR 51.37/MWh | EUR 98.71/MWh | 392 | 2025-09-25 to 2026-10-27 |
| 15 | Latvia | -0.35 | 31% | EUR 89.20/MWh | EUR 150.39/MWh | 320 | 2025-09-25 to 2026-10-24 |
| 16 | Switzerland | -0.35 | 12% | EUR 98.93/MWh | EUR 132.12/MWh | 356 | 2025-09-25 to 2026-10-27 |
| 17 | Italy Sicily | -0.33 | 60% | EUR 114.39/MWh | EUR 157.95/MWh | 343 | 2025-09-24 to 2026-10-27 |
| 18 | Italy South | -0.30 | 47% | EUR 115.47/MWh | EUR 142.89/MWh | 369 | 2025-09-24 to 2026-10-27 |
| 19 | Norway Central (NO3) | -0.29 | 26% | EUR 62.54/MWh | EUR 88.48/MWh | 378 | 2025-09-26 to 2026-10-27 |
| 20 | Czechia | -0.27 | 8% | EUR 98.35/MWh | EUR 121.87/MWh | 396 | 2025-09-25 to 2026-10-27 |
| 21 | Norway South-West (NO2) | -0.25 | 9% | EUR 89.87/MWh | EUR 107.62/MWh | 390 | 2025-09-25 to 2026-10-27 |
| 22 | Italy Centre-South | -0.22 | 39% | EUR 121.22/MWh | EUR 144.07/MWh | 234 | 2025-09-30 to 2026-10-27 |
| 23 | Italy Sardinia | -0.18 | 34% | EUR 120.27/MWh | EUR 131.36/MWh | 365 | 2025-09-24 to 2026-10-23 |
| 24 | Austria | -0.16 | 30% | EUR 116.67/MWh | EUR 132.32/MWh | 393 | 2025-09-25 to 2026-10-27 |
| 25 | Serbia | -0.13 | 5% | EUR 105.58/MWh | EUR 117.59/MWh | 396 | 2025-09-25 to 2026-10-27 |
| 26 | Greece | -0.12 | 48% | EUR 98.25/MWh | EUR 117.86/MWh | 350 | 2025-09-24 to 2026-10-27 |
| 27 | Portugal | -0.10 | 46% | EUR 64.20/MWh | EUR 77.80/MWh | 359 | 2025-09-23 to 2026-10-19 |
| 28 | Italy Centre-North | -0.07 | 20% | EUR 129.56/MWh | EUR 128.51/MWh | 224 | 2025-09-24 to 2026-10-25 |
| 29 | Slovakia | -0.06 | 2% | EUR 117.36/MWh | EUR 125.34/MWh | 375 | 2025-09-24 to 2026-10-27 |
| 30 | Hungary | -0.03 | 24% | EUR 127.61/MWh | EUR 133.00/MWh | 371 | 2025-09-24 to 2026-10-25 |
| 31 | Croatia | 0.00 | 33% | EUR 125.34/MWh | EUR 128.02/MWh | 230 | 2025-09-27 to 2026-10-27 |
| 32 | Italy North | 0.00 | 12% | EUR 138.11/MWh | EUR 133.40/MWh | 354 | 2025-09-24 to 2026-10-27 |
| 33 | Montenegro | +0.02 | 12% | EUR 125.13/MWh | EUR 114.04/MWh | 328 | 2025-10-01 to 2026-10-27 |
| 34 | Slovenia | +0.03 | 14% | EUR 128.71/MWh | EUR 126.10/MWh | 373 | 2025-09-25 to 2026-10-27 |
| 35 | Belgium | +0.09 | 19% | EUR 123.95/MWh | EUR 111.07/MWh | 144 | 2025-09-26 to 2026-10-27 |
| 36 | Bulgaria | +0.11 | 23% | EUR 140.16/MWh | EUR 123.48/MWh | 397 | 2025-09-24 to 2026-10-27 |
| 37 | Romania | +0.19 | 23% | EUR 147.25/MWh | EUR 125.80/MWh | 381 | 2025-09-24 to 2026-10-27 |
| 38 | France | +0.19 | 8% | EUR 102.89/MWh | EUR 75.98/MWh | 394 | 2025-09-25 to 2026-10-27 |
| 39 | North Macedonia | +0.23 | 4% | EUR 137.78/MWh | EUR 114.94/MWh | 372 | 2025-09-25 to 2026-10-27 |
Ranked by correlation, from Denmark West (DK1) (-0.73) to North Macedonia (+0.23). 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 2026-10-27. Shares and correlations are computed by World Power Monitor from ENTSO-E daily generation and day-ahead prices.
Related
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 2026-10-27. Data from ENTSO-E Transparency Platform. https://worldpowermonitor.com/prices/renewables/
@misc{wpm_prices_renewables_2026,
title = {{Wind, Solar and Electricity Prices in Europe}},
author = {{World Power Monitor}},
year = {2026},
note = {Data as of 2026-10-27. Data from ENTSO-E Transparency Platform.},
url = {https://worldpowermonitor.com/prices/renewables/}
} Permalink: https://worldpowermonitor.com/prices/renewables/
The Copy buttons add today's date as the access date.