U.K. May Get Negative Power Price by 2020 on Renewables Jump
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Power prices in the U.K. may fall below zero during some hours before the end of the decade as intermittent renewable energy output is poised to soar, according to National Grid Plc.
Negative power prices, already prevalent in markets from Germany to the Nordic region, occur when supply exceeds demand. Having to curb cheap supply from green power is a waste, Duncan Burt, the company’s head of commercial operations, said last week in an interview. To reduce bills and help balance the system, the U.K.’s biggest users should reduce consumption at times of peak demand and take advantage of periods with plenty of green power, he said.