Submission + - Spanish Power Is Almost Free With Renewables Set for Record (bnnbloomberg.ca)
AmiMoJo writes: Electricity prices in Spain have slumped to almost nothing as the nation’s wind and solar parks are churning out more power than ever. Day-ahead prices remained below €10 per megawatt-hour for the last week and output in the Mediterranean nation is on track for a record this month. Daily solar production on Wednesday jumped to the highest since early October and the surge is likely to last into March.
The slump is also impacting power flows in southwest Europe, with Spain currently selling into France, which is one of Europe’s biggest exporters. The commodity flows to the market with cheapest prices on an hourly basis and grid data shows Spain exporting since Feb. 21. Prices for Friday settled at €2.14 in Spain, the lowest since early November, and €67.21 in France.
The slump is also impacting power flows in southwest Europe, with Spain currently selling into France, which is one of Europe’s biggest exporters. The commodity flows to the market with cheapest prices on an hourly basis and grid data shows Spain exporting since Feb. 21. Prices for Friday settled at €2.14 in Spain, the lowest since early November, and €67.21 in France.