2023-07-11 05:26:00
When electricity prices are negative, customers generally receive money when they use electricity. Negative electricity prices recently occurred in Switzerland at certain times – only a few months following the electricity price had reached an all-time high. However, private consumers in Switzerland are not benefiting directly from this novel phenomenon.
On windy and sunny Sundays, when wind turbines and photovoltaic systems are producing a lot of electricity but little is needed, European electricity prices, and with them Swiss prices, temporarily fall into the red.
This can be read from the corresponding figures from the electricity commission Elcom. Christian Schaffner, Director of the Energy Science Center at ETH Zurich, explains: “This effect has only emerged in recent years.” In principle, whoever consumes electricity receives money in hours with negative prices.
Big consumers benefit
According to Schaffner, these prices are interesting for energy suppliers or large consumers who buy or sell electricity directly on the market. “You can reduce production in times of negative prices.” That is possible with a flexible power plant.
Schaffner names another attractive option: “Anyone who has battery storage can use the time when electricity prices are negative to charge or discharge this storage very cheaply.”
The scenarios indicate a trend towards slightly higher electricity prices.
Private consumers in Switzerland do not benefit directly from the temporarily negative electricity prices. You pay fixed prices for one year, which depend, among other things, on the average prices on the electricity market.
Trend towards slightly higher electricity prices
These have fallen significantly once more following the record swings following Russia’s attack on Ukraine. In principle, however, they will tend to rise once more in the future, says Christian Schaffner from ETH Zurich: “The scenarios point to a trend towards slightly higher electricity prices in the medium to long term.”
If the forecast is correct, electricity producers – both large and very small – would still have an interest in expanding their capacities, despite temporarily negative prices.
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