According to the data of Shandong Electric Power Market Spot Trading Center, from May 1 to May 2, real-time negative electricity price data appeared in Shandong Electric Power Spot Market for 22 consecutive hours, which refreshed the record of negative electricity price duration in domestic electric power spot market.
For a time, the new energy industry was in an uproar. Topics such as "negative electricity price trading for new energy will become normal" and "enthusiasm for new energy investment will be hit" continue to be concerned and discussed.
According to statistics, from April 29 to May 3, there were 46 negative electricity prices in Shandong Electric Power spot real-time transactions. Among them, from 20:00 on May 1 to 17:00 on May 2, the continuous real-time spot trading negative electricity price period lasted for 22 hours.
In the future, Shandong electric power market will frequently appear negative electricity prices or become normal.
Shandong Electric Power Spot Market May 1 Real-time Market Power Side Price
negative electricity prices is generally due to a short period of time, such as a sharp drop in electricity consumption, excessive power generation of new energy sources such as wind power and photovoltaic power, resulting in excess power supply and oversupply.
Negative electricity price mechanism is to allow power generation enterprises to reward customers in a subsidized way in order to absorb excess electricity in the process of electricity market competition. This has been common in the electricity exchanges of the United States, Germany, Austria, Australia, France and other countries.
In Germany, there were 128 hours of negative electricity prices in the first quarter of 2020 alone.
In Shandong, the emergence of such negative electricity prices is not new. At 1300 hours on December 11,
2019, the clearing price of -40 yuan/MWh appeared in Shandong Electric Power Spot Trading Market, which was also the first negative electricity price in China. In
the following years, there were frequent negative electricity prices in Shandong's electricity spot trading, but on May 1 this year, it was the first time that Shandong continued to have such a long period of continuous negative electricity price spot trading.
According to the "Construction and Operation of Photovoltaic Power Generation in the First Quarter of 2023" issued by the State Energy Administration recently, as of March 2023, Jiang Bin, chairman and Secretary of the Party Committee of Shandong
Electric Power Company, Shandong Province, said at the beginning of the year. It is expected that by the end of 2023, the installed capacity of new energy including photovoltaic in Shandong will reach 85 GW, accounting for 46%, becoming the largest power source in Shandong power grid. The growing scale of
new energy power poses a challenge to consumption. Through the stimulation of negative electricity price, it will promote the consumption of new energy power.
In actual operation, negative electricity prices often occur on weekends, holidays, early morning, noon and other periods. It is
easy to understand why there was a negative electricity price in the spot trading of Shandong electric power market during the May Day holiday.
With the vigorous development of new energy power generation, frequent negative electricity prices will become the norm in spot transactions in Shandong power market in the future. This is also the inevitable process of electricity market trading.
At the same time, the intermittence and instability of new energy generation objectively require energy storage to play an important role in the future new power system.
Especially in Shandong, as a major province of new energy power generation, during the 14th Five-Year Plan period, vigorously developing new wind and solar energy will remain the focus of the province's energy transformation.
The development of grid-side energy storage facilities and the integration of wind, solar and storage can not only meet the needs of peak shaving and ensure the safe operation of the grid, but also make a positive contribution to the absorption of new energy and the improvement of the utilization rate of new energy power. With the promotion of market-oriented reform of electricity trading, the policy driving force and investment driving force in the field of energy storage will be stronger.
However, the current income in the field of energy storage mainly comes from the cash arbitrage of peak-valley price difference, and it also faces the problems of single and low income, high investment cost, poor economy, immature energy storage technology and limited regulatory capacity. These will be the problems that the new energy industry must overcome one by one.
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