Last year, after the energy crisis, so-called negative electricity prices returned to an increased extent in the Czech Republic, where producers pay for the consumption of excess electricity. According to statistics, last year there were 134 hours with a negative electricity price, which is 126 hours more year-on-year and at the same time the most in at least nine years. It was reported by an industry website oEnergetice.cz.
Negative electricity prices on the daily energy market arise as a result of an imbalance between electricity supply and demand. In such cases, the production of electricity, usually from renewable energy sources, is much higher than the consumption.
The number of hours with a negative electricity price decreased significantly during the energy crisis. While there were still 119 hours with a negative price in 2020, there were 33 in 2021 and only eight in 2022. According to the industry website, the increase is a symptom of the ending energy crisis.
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According to statistics last year, electricity prices in the Czech Republic reached their lowest point on Sunday, May 28, when the price of electricity fell to minus 68.54 euros (about 1745 CZK) per megawatt hour (MWh). Electricity was free on the market that day from 10:00 a.m. to 5:00 p.m.
However, the Czech Republic is not an exception in this regard. The Nordic countries had the highest number of hours with a negative electricity price. For example, in Finland, according to statistics, they counted up to 467 hours with free electricity, and in ten of them, even at a value of minus 500 euros (12,735 CZK) per MWh.
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According to the industry website oEnergetice.cz, negative prices are a negative phenomenon in the energy sector, as they indicate insufficient flexibility of the system, or devices connected to it. They appear most often in moments with very low electricity consumption and weather suitable for the production of renewable sources of electricity – for example, on non-working days when the weather is windy or sunny. In the past, it was most often the Christmas holidays and the first day of January and May.
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