I'm not a fan of most reporting of these negative price events. First, they rarely explain why the price is negative. As the article explains, solar can switch itself off, so it's nothing physical about solar that can cause negative prices, as all solar can switch itself off before it goes negative it would bottom out at zero for those reasons. In most cases I've seen so far, contractual agreements with gas, coal or…
I agree. Negative prices make perfect sense in electricity markets, and journalism does a bad job at explaining it. Supply and demand must always be in equilibrium in real time with electricity (forgetting storage / batteries for a second). If there is more supply than demand or vice versa, then you have instability in the grid and can have blackouts. Those electrons have to go somewhere. This is in contrast to virtu…
Response/ramp times for CCGTs are not particularly quick. Typically they need 15 minutes notice to initial grid synchronisation, a further 60-80 minutes to reach full power output from a "warm" start, and up to several hours from a "cold" start. That's much better than coal-fired plants which need many hours of notice, but still likely to be too slow to respond to unexpected grid imbalances without additional support.
Natural gas "peaker" plants typically use less-efficient but faster responding OCGTs for that reason.