(Bloomberg) -- UK wind power generation reached a fresh record on Tuesday, sending electricity prices plunging below zero.
Wind output peaked at 22,360 megawatts during the evening, breaking the previous high reached just a couple of days earlier, according to the national system operator. Half-hourly prices turned negative between 5:30 a.m. and 6:30 a.m. Wednesday, touching minus £6.57 a megawatt-hour, Epex Spot data show.
Fluctuations in the weather have whipsawed Europe’s power market in recent weeks, with a prolonged stretch of calm days previously halting wind turbines and driving up prices. Now, a resurgence of blustery conditions in Britain has revived output, but also triggered yellow wind warnings for parts of the country.
Big shifts in generation from renewable sources demonstrate the challenge confronting governments as the energy transition accelerates. The UK plans a huge build-out of wind power in the coming years as it targets a clean grid by 2030. But when the weather is calm or cloudy, gas will still be needed to keep the lights on.
Indeed, toward the end of last week, windless days saw UK gas-fired plants churn out the most electricity on record. And despite the return of gusty weather since then — with wind output still above 22,000 megawatts on Wednesday morning — robust demand has kept gas-fueled plants online.
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