Italy’s first MACSE battery auction smashes expectations with 10 GWh awarded at record low prices: The result of the auction are tariffs that came dramatically below the reserve premium which was set at €37,000 per MWh per year.

This is a lovely bookend to the story that dropped a few hours ago on this sub, about the coal auction in the United States that yielded a single bid, of one tenth of a cent per ton for the right to mine coal on public land. The American auction was for 167 million tons of coal, and the only bidder paid $186,000 for it- equivalent to small house in the middle of nowhere.

Meanwhile, in Italy, high tech developers are happy to meet the requirement for energy storage, and they’re bidding the price down.