[dennisdamenace]

The article doesn’t mention this but I will guess this is the real time market, or spot market. In off peak hours and especially at such high prices, you are taking about very little actual energy. Most of it would have been purchased in the day ahead market.

This happens all the time in US markets - especially where there is wind.

It is done as a price signal to producers to either ramp down or consumers to buy a bit more. The ideal winner here is pump storage. But they may have already schedule themselves in the day ahead market and have no extra storage.

The market is far more complicated than the article let’s on.