Negative electricity prices in nordics nearly all day | Hacker News Reader

Negative electricity prices in nordics nearly all day

data.nordpoolgroup.com

5 pointsjakewins6 comments

Windy days and low heating needs means consumers get paid nearly every hour tomorrow to take surplus electricity off the EU grid.

Thought this is interesting for HN to discuss - the expansion of near-zero-marginal-cost production from wind and solar means more and more nearly free energy for systems that can take advantage of it. A lot of strain on the transmission system, but also a lot of opportunity for innovation.

Probably a Bitcoin Miner or an Aluminium Smelter depending on which you consider more useful on how much capital you have.

Yeah like the popular answers are eg

- Hydrogen electrolyzers

- Some deferrable industrial processes (or processes that can switch between fuels?)

- Batteries ofc

- EVs

- etc etc

Generally it seems like you have this tradeoff between saving $$ by running intermittently when energy is cheap, but not losing $$ from capital assets sitting idle. EVs are really in the sweet spot for short flexibility - their useful output doesn't change much whether they charge at 8PM or 1AM.

Systems like smelters and electrolyzers are not at all as clear - they have enormous capital costs and their operators are likely not gonna enjoy letting them sit idle.

It's interesting to imagine what kinds of systems could take advantage of this grid we now have where prices will be near-and-below-zero for long swaths of time during summer.. ideally also things that don't tax the transmission system, eg. could be placed close to production facilities..

Other metal too. Almost any factory with several steps and space to buffer after the energy-intensive steps. Cars.

Can someone outside the Nordics actually buy/consume that power or is this restricted by the transmission system?

What impact does this have on spot prices elsewhere in the European grid?

The EU price is settled in a single daily mixed-integer quadratic solver run, so the prices directly affect each other when the solver runs. The goal is to reach a singular price across the system, theoretically, but like you say that becomes impossible due to transmission congestion.

Either way: These low prices will be driving down prices across the continent, the algorithm will maximize export from these low-cost areas as much as it possibly can; that way the entire continent benefits from the windy weather over the baltic.

The algorithm is documented here: https://www.nordpoolgroup.com/globalassets/download-center/s...

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