UK Surge in Negative Power Prices Opens Door to Battery Boom

Instances of negative power prices in Britain are set to more than double this year as renewable generation expands faster than electricity demand.

The trend reflects the speed of renewable expansion. A record 7.4 gigawatts of new wind and solar capacity is due to come online in the UK this year, BloombergNEF estimates, including RWE AG’s 1.4-gigawatt East Anglia 3 offshore wind farm. Household solar is also playing a growing role, with a record 885 megawatts of domestic rooftop capacity installed last year, according to government data.