瑞士电力价格情报机构Pexapark在最新分析中指出，欧洲多个主要市场的长期购电协议（PPA）签约数量下降，原因在于买方报价与卖方要价之间缺乏交集，导致可交易价格区间消失。
报告显示，在德国，2025年第三季度几乎没有PPA价格重叠区间，当季仅公布三份总计169MW的交易。Pexapark表示，买方正下调太阳能项目的收益预期，以应对批发市场供应过剩和负电价风险。
英国的PPA交易也因差价合约（CfD）计划推高卖方价格预期而受阻。法国同样面临买家要求折扣与开发商基于政府拍卖基准报价之间的矛盾。
在西班牙与葡萄牙，PPA减少与光伏“并网弃电率上升”和电价“收益蚕食风险”有关。北欧市场则因企业购电方更加敏感，不愿支付足以支撑项目融资的溢价，导致新开发几近停滞。
相对而言，意大利成为“例外”，因其长期稳定的监管框架仍维持投资者信心，储能配套项目活跃。
Pexapark联合创始人卢卡·佩德雷蒂表示：“当买方的出价无法达到卖方的最低可接受价格时，交易自然停止。要加速能源转型，市场需要更多定价透明度与现实预期。”
报告还指出，在市场流动性不足的背景下，储能配套PPA正成为欧洲项目融资中日益重要的支撑工具。
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