Last Sunday at 12:45 it was sunny and windy, and the end of a long holiday weekend. It looks like this resulted in more than 90% renewable energy, a whopping 13.6 GW of power exports, and EPEX spot intraday continuous power prices down to -178.01 EUR/MWh, with a weighted average of -144.78 EUR/MWh during that time.
Based on aggregated data from Fraunhofer ISE on their energy-charts website (using the data for solar, wind and conventional above 100 MW, as of the time of writing this) this would add up to 96% of the power that stayed in the country. 13.59 GW were exported, 29% of non-export power. To be precise, the data German electricity production on 8 May 2016 at 12:45 CEST was
|source||GW||% net production|
Using Fraunhofer ISE’s charts for week 18, this looks like this:
Based on EPEX SPOT data, the lowest price between 12:30 and 12:45 was EUR -178.01 EUR/MWh, with a weighted average of -144.78 EUR/MWh. Later in the day, prices went down even further to -374.00 EUR/MWh between 14:30 and 14:45. The lowest weighted average price during the day was between 14:15 and 14:30 at -241.83 EUR/MWh. Volatility was high, with prices going up to 100 EUR/MWh between 20:30 and 20:45.
On Fraunhofer ISE’s energy chart showing production and the power price for the same period, those negative and positive prices look like this:
I assume that last weekend’s figures will be refined and discussed and explained in more detail in the coming days and weeks (see for example energytransition.de, reneweconomy, Quartz). It will be interesting to see the different spins people may want to give to the data. In any event, it is clear that the physical and commercial reality of such a scenario also demonstrates serious challenges for the regulatory framework for energy, including not only electricity market design, renewable energy support, grid expansion, or digitisation.
[amended, adding lowest figures for the day]
- Platts 7th Annual European Power Summit: Germany – New Market Design Examined
- The Electricity Market Act Bill – A New Electricity Market Design for the German Energy Turnaround?
- 103 Million Tonnes of EEG Related CO2 Reductions Through Renewables in 2015, at about EUR 219 per Tonne
- Revision German Renewable Energy Sources Act – BMWi Starts Consultation on Draft EEG 2016
- The New German Incentive Scheme for Electric Cars – Really EUR 4,000 in May?
- IBE Conference on Digitisation of the Energy Industry in Bochum