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Sunday, June 16, 2024

Energy – electricity prices. There have never been such rates in history. “Changing the mix changes the market”

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On Sunday, June 11, negative prices appeared on the Polish electricity market for the first time in history. These are delivery times between 11.00 and 16.00. A negative price means that the producer pays the consumer for the energy consumption.

Anna Łukaszewska-Trzeciakowska, the government plenipotentiary for strategic energy infrastructure, referred to the data from the Day-Ahead Market (energy market).

For the first time in history

“A day to remember. Tomorrow, for the first time in history, as part of market coupling on the spot market between 11:00-16:00 we have negative energy prices (…) Changing the mix changes the market,” she wrote on Twitter.

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A negative price means that the producer pays the consumer for the energy consumption. It is power plants that pay extra to produce electricity due to its surplus on the market.

In Poland, negative energy prices may operate from 2019. This follows from Art. 10 of Regulation 2019/943 on the internal market for electricity, which adapted Polish law to EU requirements. The document abolished the existing minimum electricity priceswhich amounted to PLN 70 per MWh.

Not only Poland

Electricity prices on the Day-Ahead Market with delivery at certain hours on Sunday will also be negative on AustriaGermany or Sweden. This situation is related to low demand on public holidays and high production from renewable sources.

On Sunday before noon, according to PSE data, Polish photovoltaics operate with a capacity of over 7 GW, and wind farms – 2.1 GW with a demand of 15 GW.

Main photo source: Shutterstock

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