Belgium (The brussels morning news paper): Electricity prices went down a lot recently because of extra power from wind and solar and less use on weekends. On Sunday, people got paid 53 euros for every megawatt-hour they used. Most regular homes didnt notice any changes in their bills.
Electricity prices for Saturday, scheduled for delivery on Sunday between 11 AM to 4 PM, were negative, hitting the lowest levels between 1 PM to 2 PM. During that specific time frame, customers would essentially be paid 53.61 euros for every megawatt-hour of electricity they consumed from the grid. On Friday, electricity prices dropped below zero between 12 PM and 4 PM, hitting the lowest at -18.26 euros per megawatt-hour from 2 PM to 3 PM.
What causes negative electricity pricing for consumers?
The negative pricing observed is due to an oversupply of wind and solar energy generation, combined with reduced electricity consumption typically seen during the weekend. The occurrence of negative pricing is becoming more common because of the expanding renewable energy generation. Negative pricing mostly affects energy suppliers and larger corporations. Most normal households won’t benefit from it unless they have a flexible electricity deal. Just a tiny fraction 0. 2% of Flemish households saw the effects of negative pricing in the second quarter this year. Consequently, for most regular household the energy bill will not change. Negative pricing doesn’t concern them, unless they hold particular agreements. Only those who have designated contracts may feel such effects. It’s mainly the big energy companies and the large consumers who have to absorb these price swings everyday.
