Surge in renewables turns electricity prices negative
The surge in solar panels and wind turbines is leading to an increase in negative wholesale electricity prices. This phenomenon, occurring in regions such as southern Australia, southern California, France, and Switzerland, happens when production exceeds demand. For example, in southern Australia, negative prices have been recorded about 20 per cent of the time since last year. Southern California saw negative prices over 20 per cent of the time in the first half of 2024,…