Solar Surge and Softer Gas Drive Week 15 Power Decline

The downside pressure on prices was driven primarily by a sharp increase in solar generation, alongside softer gas prices during the second half of the week. Solar output rose markedly week‑on‑week, increasing by around 54% in the Netherlands and 28% in Germany, which heavily weighed on prices during daylight hours. Notably, on Monday, 6 April, which coincided with the Easter holiday, elevated solar generation combined with lower demand pushed Dutch prices as low as ‑€56.85/MWh at hour 14. Negative prices during solar hours were observed on most days of the week, further suppressing peakload prices. 

On the supply side, Borssele 30 nuclear plant entered scheduled maintenance from 3 April to 7 May 2026, removing baseload capacity but failing to offset the solar-driven downside. 

Gas prices added further bearish momentum.TTF day-ahead fell from around €49.9/MWh on 6 April to €44.9/MWh on 10 April , driven by a sharp easing of the geopolitical risk premium following the announcement of a temporary U.S.–Iran ceasefire on 8 April, which raised expectations of reopening of the Strait of Hormuz and a gradual normalization of LNG and oil flows. 

However, the decline proved short-lived. As of 13 April, TTF day-ahead rebounded to €48/MWh as the market reassessed the geopolitical outlook. Over the weekend, ceasefire talks failed to deliver a lasting agreement, while renewed threats, including U.S. discussions around a potential maritime blockade, brought supply risks back into focus. As a result, volatility remains elevated, with prices reacting sharply to headlines, while persistent uncertainty around the Strait of Hormuz continues to keep the market highly reactive.