We take a look at how accurate our energy experts predictions for 2020 have proven.
Negative pricing extended in CfD rules as clarity on energy storage, renewables integration yet to come
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.
As negative pricing becomes increasingly common, Cornwall Insight's Tim Dixon explores what's driving the trend and how it's likely to change in the coming year.
Full CfD proposals include prospective changes to technology pots, negative pricing and energy storage
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.
Negative pricing will be a ‘big feature’ in net zero transition as UK sees 15 periods in 2020 so far
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.
Wind power returned last weekend following a relatively still period, sending spot prices into the negative for extended periods.