ASE Group : In September, the daily price of electricity on the Spanish wholesale market (POOL) closed at 103.34 €/MWh. This is 7.6% more expensive than in August, but 57.6% below its level a year ago. The reduction of wind and photovoltaic has meant a greater presence of combined cycle gas (CCG) in the generation mix, causing the price to rise. ASE Group analysts point out that this rise has…
Santander | According to Euractiv, political groups in the European Parliament have reached an agreement on the “general conditions of the EU electricity market reform… paving the way for a swift adoption of the proposal in the EU assembly before holding decisive talks with EU member states to finalise the law”. The electricity market reform, proposed by the European Commission in March, aims to avoid a repeat of the energy…
ASE Group| With an extraordinary drop of 8.7%, the daily average of Spanish electricity demand in May was 562 GWh, practically the same as that recorded in May 2021 (560 GWh) at the height of the pandemic. This decrease was more pronounced in the hours of maximum solar radiation (between 11% and 12%) due to the boom in self-consumption installations in both homes and businesses. The other factor that explains…
Norbolsa | The European Commission presented the reform of the electricity market, focusing on long-term contracts, as leaked by the Periódico de la Energía magazine. We highlight three aspects of this proposal; firstly, Brussels has made it clear that the current market works, and therefore marginalism will continue to work; secondly, long-term contracts are introduced as requested by the sector with the aim of introducing more stability; and finally, together…
The governments of Germany, Denmark, Estonia, Finland, Luxembourg, Latvia and the Netherlands have sent a joint letter to the European Commission in which they ask that the reform of the electricity sector in the EU be carried out under free market parameters and without price interventionism. The letter, to which the newspaper Expansión has had access, is a harsh blow to the proposal put forward by the Spanish government to…
Spanish electricity demand fell by 6.7% in December compared to the same month of the previous year and after discounting the effects of temperature and working hours. In gross terms, demand is estimated at 20,437 GWh, 7.2% lower than in December 2021. Generation from renewable energy sources accounted for 45.1% of the mix in December. In December, wind energy was the main generation technology in our country. Its production accounted…
The monumental bureaucratic bottleneck that currently exists in Spain in the processing of permits for the installation of renewable energy plants threatens to destroy hundreds of projects if the government does not intervene in the coming weeks. According to various reports handled by the major electricity companies and reported by the newspaper Expansión, the paralysis is already affecting between 2,500 and 3,000 projects, totalling between 80,000 and 100,000 megawatts (MW)…
Fernando González Urbaneja | Several ministers in conversations with journalists have complained about the excessive, extraordinary, abusive… profits of the electricity companies. These adjectives have been heard in Parliament from the mouths of more than a few dubiously documented parliamentarians. It would be desirable for such descriptions to be followed by explanations and figures, because where there are no accounts, stories dominate. To begin with, it would be useful to…
J.P. Marín-Arrese | PM Pedro Sánchez bet hard in the recent EU Summit when he pressed for an overhaul of the current marginal cost pricing in the electricity sector. While missing his goal, and rebuked by Germany and Holland, he was given as a consolation prize the promise that Spain and Portugal could cap electricity gas prices on a temporary basis, subject to final scrutiny by Brussels. Decoupling the most…
The United States has consolidated its position in February this year as the main exporter of natural gas to Spain. And for the second month in a row, purchases of this raw material from the US country have exceeded those from Algeria, the main supplier until the end of last year. This is revealed in the statistical bulletin of Enagás, the Spanish gas system operator. It flags that in February…