European power prices fall below zero with green power boom
technology will catch up, but for now the mismatch is a headache for policy makers and companies.
Data from Epex Spot SE on Friday show electricity prices for certain hours of Saturday are negative in nearly a dozen countries including the UK, Germany, the Netherlands and France. That’s likely to continue into Sunday when wind power production is set to ramp up further in northern continental Europe and Britain.
With the solar build-out set to break records every year for the rest of the decade as panel prices plunge, the only way to address negative pricing is to make power consumption smarter. That means that power system will have to adapt. Soaring amounts of cheap renewable power that’s concentrated in just a few hours of the day can increase the cost for the power grid operators to balance the system. Ultimately those costs end up spread out on customers’ bills.
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