Negative price hours are assembled from two authoritative sources to maximise completeness and accuracy across all six markets:
‣ Spain & Portugal: OMIE (Iberian market operator) — primary source for both countries. Provides quarter-hourly (PT15M) settlement prices from October 2025 onwards; hourly (PT60M) prices for earlier periods.
‣ Belgium, France, Netherlands & Germany: ENTSO-E Transparency Platform A44 (EPEX SPOT clearing prices, PT60M).
A negative price hour is counted as 1 hour whenever the mean Day-Ahead clearing price across all settlement intervals within that clock hour is strictly below zero (EUR/MWh). For PT60M markets (one price per hour) this is identical to a direct comparison; for PT15M markets (four 15-minute prices per hour) the arithmetic mean of the four slots must be negative for the hour to count. This uniform whole-hour methodology ensures full comparability across all six countries and across the pre/post October 2025 period for Spain and Portugal, and is consistent with how industry references (Kpler, REE/ESIOS, SMARD) report negative price statistics.
Historical data freeze: Once a calendar month closes, its negative hour count is locked and not revised even if the source APIs later publish corrections to historical prices. Only the most recently completed month is re-derived on each monthly pipeline run. This guarantees that historical counts are stable and reproducible.
DST spring-forward transitions naturally yield 23 hours on one Sunday each March; these are not data gaps.
· Not investment or trading advice. ·
Data Sources
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