Negative power prices have swept across Europe in the first nine months of 2020, with excess power in the market resulting in consumers being paid rather than charged to use electricity. European countries on average saw negative day ahead prices almost 1% of the time.
National Grid updates the electricity and gas markets annually with its new Future Energy Scenarios and this year’s edition sees a significant shift as it has been adjusted to accommodate Net Zero 2050 targets within three of the four offered scenarios.
In the first six months of this year, generation from this power source across Europe amounted to 68TWh – up from the 59TWh in the corresponding period in 2019 and 70% higher than the 2015 figure of 40TWh. In the second quarter of 2020, solar output hit a record 47.6TWh.
Britain has overtaken Spain to become the second highest producer of wind generation in Europe. The data looked at levels of European wind generation in the first 23 weeks of 2020 and found that Britain ranked second after Germany during the period.
Today just before 6AM, Great Britain broke the record for the longest period of electricity generation without coal. The new record set today is due to a reduction in the size of the available generation fleet and low demand due to the coronavirus pricing coal out of the market.
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