Against the backdrop of the accelerating global clean energy transition and the rapid increase in renewable energy source (RES) penetration

temporal imbalances between supply and demand in power systems are becoming increasingly prominent. Consequently

the phenomenon of negative electricity prices has evolved from sporadic occurrences into an increasingly prevalent market signal. This paper focuses on case studies of negative electricity prices in major international electricity markets (the Netherlands

Germany

Australia) and selected provincial markets in China (Shandong

Zhejiang). It systematically analyzes their underlying causal mechanisms

assesses their multidimensional impacts

and comparatively examines the mitigation strategies adopted across these diverse markets. The study reveals that the core driver of negative prices is the concentrated high generation feed-in from RES during low-load periods. This is concurrently influenced by multiple factors

including insufficient system flexibility

inter-zonal transmission congestion

and constraints imposed by specific market rules such as subsidies and bidding strategies.Major international electricity markets are widely exploring mitigation measures such as optimizing market clearing mechanisms

incentivizing energy storage and demand-side response

and adjusting subsidy policies. In contrast

the occurrence of negative prices in China’s electricity markets

while sharing common drivers

also exhibits complex correlations with domestic factors

notably medium- and long-term contracts and market power dynamics. Consequently

formulating and implementing differentiated and systematic mitigation strategies

drawing upon international experience while being tailored to China’s specific national context

is crucial for the long-term sustainable development of its electricity markets.