[bryanlarsen]

In a free market, assuming constant demand, the price is the same as the highest production cost necessary to meet demand. In other words, if 90% of demand can be met by cheap renewables, 10% by expensive natgas and 10% by even more expensive coal, then the price is expensive. The consumer doesn't see the benefit of cheap renewables until they can meet the entire demand.

Obviously electricity isn't anywhere close to a free market, but it sometimes pretends to be one.

Also transmission costs are significantly larger than production costs in most markets.