New record for negative electricity prices due to sunny, windy weather
The strong wind and sunny weather resulted in a record number of hours with negative electricity prices. Over the weekend, the 190,000 Netherlands households with a dynamic energy contract even received money for the electricity they used. The peak was between 2:00 and 3:00 p.m. on Sunday when they got 33 cents for every kWh they consumed, AD reports.
There were 11 hours of negative electricity price hours this weekend. For six hours - one on Saturday, three on Sunday, and two on Monday - market prices dropped to such an extent that, including energy tax and VAT, people with a dynamic contract got money instead of paying for their electricity. So they got paid for running the dryer or charging the electric car during those hours.
The negative electricity price hours on the Pentecost long weekend brought the total for May to 46 hours. The counter already stands at 101 for this year, more than the 83 negative electricity price hours in all of 2022.
According to the Netherlands Authority for Consumers and Markets (ACM), 190,000 households in the Netherlands now have a dynamic energy contract. That number jumped by 120,000 in the past six months.
With a dynamic energy contract, the electricity price fluctuates per hour, with users receiving the next day’s prices daily. Those who use their dynamic contracts smartly can save a lot of money or even earn money with negative electricity prices. Electricity prices must drop to -15 cents before you earn money due to energy tax and VAT.
