(Montel) Spanish spot power prices looked set to jump by up to EUR 40 week on week amid declining wind output, with forward contracts set to fall with lower gas prices.
Baseload for Monday and Tuesday settled at EUR 200.38/MWh and EUR 190.53/MWh, respectively, compared to last week's average of EUR 117.56/MWh.
Volue Insight and Montel’s Energy Quantified (EQ) expected prices to average EUR 145.60/MWh and EUR 163.45/MWh this week, respectively.
Prices would be elevated until Wednesday before falling from Thursday to average around EUR 145/MWh, said one trader.
However, another participant pointed to an average of…