Energy prices are low – so low, in fact, that they are in negative territory. But these savings do not benefit consumers.
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DON GONYEA, HOST:
And elsewhere in Europe, the economies of many countries are affected by a particular problem: negative energy prices. But citizens will not see this reflected in their household bills. No, prices close to zero or even negative concern the wholesale market which, according to its own calculations, has already broken the annual record in certain countries for the greatest number of hours at negative prices. And the year isn’t half over yet.
This is all due to massive investments in solar and wind power in recent years. An energy expert recently told Reuters that this could indicate that, quote, “success consumes its own offspring.” This success does not necessarily mean that European countries should stop their green revolution. But some say they may need to invest in more storage capacity. And consumers should too. So stock up on batteries and hope those energy savings trickle down.
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