As coal's share falls, price volatility rises: each percentage point lost adds ~6 €/MWh to the daily spread

Monthly coal generation share (%) vs average daily day-ahead price spread (€/MWh)

Source: ENTSO-E, Nord Pool via Modo Energy

Note: Each dot is one month. Coal includes hard coal and lignite. Spread = daily max minus min DA price. Trendline fitted via OLS. Data covers Jan 2023 – Dec 2025.

MODOENERGY