For the first time in May Day, May Day took place in our country prices wholesale power of the order of -50 euros per megawatt.
This is a very important development, as we were used to seeing the electricity price falling up to -0.01 euros in noon. The previous record was close to -1 euros and now broke in an emphatically manner.
Indicatively, the prices were found below zero for seven hours, from 11:00 to 17:00. This is expected to benefit consumers to some extent, reducing the average price of the month. Already, the average daily price on May Day fell to 41 euros, from € 58-65 in the previous days, ie 37%.
On the contrary, this development is going to hurt several RES producers, who are even paid for a little positive, but not when it becomes negative. The industry executives have warned of the negative impact of negative prices on commercial investment viability. Now, it remains to be seen whether the phenomenon is going on or if it is temporary.