UK power prices turn negative for nine hours, balancing costs spike during ‘extraordinary’ weekend. Unusually low demand, some 2GW below forecasts, combined with high wind generation to send prices spiralling, and National Grid was even forced into instructing onshore and offshore wind farms to turn down their generation. Between the hours of 12:00pm and 9:00pm on Sunday 26 May, the UK endured an extended period of negative pricing, with wholesale power prices falling to as low as -£71.26/MWh.
Current News 28th May 2019 read more »
Electricity generated by onshore wind and solar photovoltaic (PV) technologies will in the next year be consistently cheaper than from any fossil fuel source, a report showed on Wednesday, boosting the case for energy sources that don’t emit carbon. The trend for cut-price renewable energy is already set but the report by the International Renewable Energy Agency (IRENA) gives fresh evidence of the speed of the decline, driven by increased production runs and technology improvements. “Onshore wind and solar PV are set by 2020 to consistently offer a less expensive source of new electricity than the least-cost fossil-fuel alternative without financial assistance,” said IRENA, a government-backed body that aims to support countries in their transition to sustainable energy sources.
Reuters 29th May 2019 read more »
