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.
Last year saw renewables records broken across the board as renewables produced nearly 37% of the UK’s power, according to new data released by the Department for Business, Energy and Industrial Strategy (BEIS).
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.