Power Produces in Germany were reportedly all set to pay customers to use electricity recently. The wind generation was forecast to climb to a record on October 29, 2017, which would reportedly create more output than needed and drive the electricity prices to below zero.
This scenario would make it the first time this year that for a whole day the average price would be negative.
With high amounts of wind generation, Germany’s grid operators would have to maintain a record of keeping the balance between how much energy people were using, and how much was being produced. The scenario of negative prices typically implies that producers should either shut down their power stations in order to reduce the supply or pay customers to take the electricity off the grid.
Recently on October 29, at 7 a.m., the wind output was forecast to peak at 39,190 megawatts, which was equivalent to the output of about 40 nuclear reactors. The output was reportedly enough to meet more than half of Germany’s total demand. According to the industry federation, Bundesverband WindEnergie (BWE), the onshore wind turbines accounted for almost a third of Germany’s installed power capacity at the end of June. The nation was also reported to be poised to increase the new installations by 9% this year.
According to Bloomberg New Energy Finance, the cost of electricity from offshore wind farms, which was once considered as one of the most expensive forms of green energy, is reportedly expected to dip by 71% over the next two decades. Meanwhile, Germany had surprised the renewable energy industry earlier this year by handing out contracts to developers who were willing to build offshore farms without subsidy. The wind generation in Germany was reported at a record of 38,370 megawatts on 18 March.