German residents are paid compensations due to electricity surplus

The Bloomberg New Energy Finance agency published the information that on 29 October of the year to date, the generation of electric power through wind farms topped record levels (about 39 thousand megawatt). This amount of energy is equivalent to the generation of 40 nuclear power plants and is sufficient to meet more than half of a total demand of all Germany.

The electric power surplus occurs due to the fact that the generation reaches peak levels and more electricity is produced than necessary. In the circumstances concerned, grid operators need to struggle for the maintainance of the power balance. They have two alternatives to solve this problem: either to reduce the supply, temporarily disabling the wind farms, or to unload the grid, further paying its customers compensations for an energy waste. In the latter case, an electric power price cutting below zero takes place. It is worthwhile noting that this is the first day-long electric power price cutting below zero. Earlier, in May 2016, such situation lasted for only a few hours.

About 10% of the electric power demand in Europe is currently provided through wind energy, and these figures are expected to continue to go up as the technologies for the manufacture of the equipment for RES become cheaper. Besides, according to the Bloomberg forecast, the cost of generating electricity at offshore power plants, once one of the most expensive forms of obtaining “green” energy, should shrink by 71% over the next 20 years.

According to the BWE industry federation, offshore wind power accounted for almost a third of Germany's installed capacity at the end of June 2017, and this year the country is ready to increase the production volume by 9%.

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