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Spanish spot power eyes 20% drop this week on more wind

Electricity

26 Sept 2022 11:36

26 Sept 2022 11:36

(Montel) Spanish spot power prices look poised to dive around 20% week on week, or up to EUR 30, amid increased wind supply, with lower gas prices pressuring contracts further out.

Baseload for Monday and Tuesday settled at EUR 119.77/MWh and EUR 100.16/MWh, respectively, compared to last week's average of EUR 137.42/MWh.

Volue Insight and Energy Quantified (EQ) expected prices to settle in a EUR 100.80-130.23/MWh range this week.

Yet a Spanish trader pointed to a EUR 110/MWh average, with some days lower than EUR 100/MWh, amid an expected increase in wind supply and relatively low gas prices.

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