Comment by eliben
4 hours ago
During certain hours of the day in California, electricity is essentially free due to solar overproduction, which sometimes causes negative wholesale prices.
4 hours ago
During certain hours of the day in California, electricity is essentially free due to solar overproduction, which sometimes causes negative wholesale prices.
I've never quite understood negative electric/gas/oil prices.
Are you literally paid for agreeing to receive the energy?
Yes. Counterintuitive, but it make sense when you take all the factors into account (such that completely shutting down and then later restarting turbines may cost a generator more than paying someone to take power off their hands).
Yep. Last August the total cost to charge my car for the month was -10SEK of about -$1.05 US, as my energy company was trying to put load into its batteries at the times when the grid most needed it.
>my energy company was trying to put load into its batteries at the times when the grid most needed it.
I'm not sure I understood this sentence?
1 reply →
Yes, if you’re a battery in the system. Basically discourages generation because there’s too much supply. But this generally doesn’t trickle to consumers afaik.
Easiest to understand with oil. During Covid the price of oil went negative. So you’d be paid if you bought that oil.
Sounds like a great deal right? But now you’re on the hook for receiving and storing that oil. That costs money, it’s not free. That’s why the price went negative - the seller was trying to offload and there were no takers at $0.