Negative power pricing is becoming an increasingly common occurrence on the UK energy networks. Already in 2020, there have been 15 half hour periods where the cost of electricity fell into negative figures, according to Drax Electric Insights.
High wind over the weekend sent power prices plunging as a surge in UK wind generation triggered negative prices for a record length of time, according to National Grid.
UK wholesale power prices dipped into negative pricing for more than six hours yesterday following an “unprecedented turn of events” in the country’s supply and demand profile.
Shell has rebranded First Utility as Shell Energy and switched all of its residential customers to 100% renewable power as it places the UK supply market firmly in its crosshairs.