negative pricing

This week’s issue of Current± Price Watch – powered by Enact – looks at over six hours of negative day ahead prices over the weekend and explores this year’s Future Energy Scenarios published last week by National Grid ESO.

Sarah Keay-Bright presents National Grid ESO concerns over the current structure of the CfD scheme.

This week’s issue of Current± Price Watch – powered by Enact - looks at the causes of negative energy prices over the weekend, Ofgem’s price cap forecast and the effects of the falling imbalance prices.

The windy weather pushed power prices down below zero last week, hitting a low of -£61/MWh according to EnAppSys.

The government has confirmed that it will extend the negative pricing rule for projects bidding in next year’s Contracts for Difference (CfD) auction, but will further consult with the industry on potential amendments for energy storage and system flexibility.

​Great Britain saw 80 hours of negative pricing in the first nine months of 2020 as instances of negative day ahead prices more than double across Europe.

Low demand and a sunny weekend sent power prices ​plunging into negative figures on the day-ahead hourly market​ for the third time as generation hit a new record.

The formal consultation document on changes to the Contracts for Difference scheme includes a potential revision of technology pots, an extension of the negative pricing rule and a relaxation of energy storage metering requirements.