Here is something else that is never found in monopoly electricity markets but is a reality in competitive electric markets--negative electricity prices.
Competitive wholesale electricity markets can produce such fierce competition that sellers of electricity are willing to pay buyers of power to take their production. This is the strange but true world of negative electricity prices.
Yesterday, the EIA posted great data on negative electricity prices. See the mind bending facts at:
Electric generation producers with the lowest production costs in competitive generation markets typically bid zero into the market and take whatever the market clearing price is. In the vast majority of hours each year, the market clearing price is a positive number.
But in a small number of hours, in some geographic locations of competitive electricity markets, the zero supply bids actually exceed the amount of electricity demand. At that point, the market price goes negative. Again the EIA has the fascinating details at the link provided.
Now which electricity producers have the lowest production costs and bid zero all the time to assure that they will be dispatched?
Wind, solar, hydro, and nuclear plants, because these plants have no fuel costs or low fuel costs. Renewable generators typically have production costs well below 1 cent per kilowatt-hour, while well-run nuclear plants have running costs around 1 cent.
This fact of power generation life in competitive markets is one reason why renewable energy producers lower wholesale market prices. There is a term for their impact: "price suppression."
Negative pricing is, indeed, severely suppressed.