Yesterday the price of electricity in Finland was negative 1.5 cents / kWh
It's still not earning you money to spend electricity because you still have to pay the transfer fee which is around 6 cents / kWh but it's pretty damn cheap nevertheless, mostly because of the excess in wind energy.
Last winter because of a mistake it dropped down to negative 50 cents / kWh for few hours, averaging negative 20 cents for the entire day. People were literally earning money by spending electricity. Some were running electric heaters outside in the middle of the winter.
Renewables dipped below $0 for us in California too this year. Fortunately for the utilities, those savings don't get passed along to customers and I still paid $0.53 kW/h. /s
This is not a good thing. Any time generation has to pay to produce, solar and wind rollouts are slowed.
We need better demand shaping methods, to increase load on grids during periods of excess production, and decrease loads during shortages. We need to stabilize rates at profitable points to maintain growth of green energy projects.
We also need long-term grid storage methods, to reduce seasonal variation. A given solar project will produce more than twice as much power during a long summer day as it will during a short winter day. If we build enough solar to meet our needs during October and March, we will have shortages in November, January, February, and surpluses from April through September. We will need some sort of thermal production capability anyway; hydrogen electrolysis or Fischer-Tropsch synfuel production can soak up that surplus generation capacity and produce green, carbon-free or carbon-neutral, storable fuels for thermal generation and/or the transportation sector.
Meanwhile in the USA the electric companies will mine BTC, and charge consumers more wherever they can. They will even sue people for going solar for "losing out on profits".
Luckily my energy company found a way around all of this to always charge more! We have "Basic Customer Charge", "Summary of Rider Adjustments", "Renewable Energy Rider", and then Sales Tax on all of it. My base charge is over 100$ before they start calculating your actually energy usage. Yay electrical monopolies!
It might be cheap now, but I'm fearing the December - February i.e. the coldest part of the year when the price can get salty. Especially when/if the OL3 (or any other) plant trips offline, the price will bump up a lot.
The good part of having excess eletricity is that doing a "electric-kettle" district heating becomes feasible. So instead of reducing the (windmill) production, it makes sense to dump the excess generation capacity into district-heating. (which has large capacity to store the heat)
Welcome to the world of renewables. We have quite some negative hours in Germany in summer when sun and wind are active simultaneously. Unfortunately Finland relies on nuclear, does it?
If I had to guess, it's a temporary influx of "renewable" energy ( read solar nuclear energy as pretty much everything on earth including coal / water and so on ). You can't copy this into other countries. Both Scandinavian and alpine countries have abundance of water and wind energy
A negative price is absurd and has no physical reality, it is the result of speculation and abstract rules not grounded on reality. It always costs to build and operate whatever power source and networks were involved, you don't have to pay electricity to f*ck off if you produce too much of it.