Business · Energy & Commodities · 1 day ago
Spanish wholesale electricity prices are at their third-highest autumn level
Spain’s wholesale electricity market averaged €147.6 per megawatt-hour from Sept.
1 to Oct.
10, the third-highest level for that period since the market began in 1998.
The wholesale market is one reference for consumers on Spain’s regulated electricity tariff.
Prices were higher in the same period in 2021 and 2022, during an energy crisis linked to rising global demand and Russia’s invasion of Ukraine.
This autumn, demand has risen while wind power generation has fallen, increasing the need for electricity from gas-fired plants.
Gas prices remain high, and the war in Iran and tensions in the Strait of Hormuz are affecting energy supplies.
Solar power helped during the middle of the day but could not meet demand later, while the share of renewable generation fell in October.
The high wholesale price matters because it can affect the regulated tariff, but the available information does not say how prices will change next.
Spanish wholesale electricity prices averaged €147.6 per megawatt-hour from 1 September to 10 October, the third-highest level for that period since the market began operating in 1998.
Only the same period in 2021 and 2022 had higher average prices, at €168.1 and €238.2 per megawatt-hour.
Higher electricity demand and reduced wind generation increased reliance on gas-fired power plants.
Gas prices and supply were affected by tensions in the Strait of Hormuz, while Europe’s gas reserves were lower than a year earlier.
The wholesale price exceeded €200 per megawatt-hour on 6 October for the first time since 2022.
- Who
- Spain’s wholesale electricity market, known as the pool; energy market analyst Juan Antonio Martínez commented on the factors.
- What
- Prices averaged €147.6 per megawatt-hour from 1 September to 10 October, the third-highest autumn level on record.
- When
- The data cover 1 September to 10 October 2026; prices crossed €200 per megawatt-hour on 6 October.
- Where
- Spain’s wholesale electricity market, within the Iberian market operated by OMIE.
- Why
- Higher demand, lower wind generation and costly gas-fired generation contributed to the elevated prices; the article also cites tensions in the Strait of Hormuz.
This story does not have two clearly opposing sides.
Venimos de un septiembre con un 14,46% más de demanda que hace un año y una caída de la generación eólica del 17,7%
The meteorological autumn period used for the price comparison began.
The wholesale electricity price exceeded €200 per megawatt-hour for the first time since 2022.
The average price since 1 September stood at €147.6 per megawatt-hour.
- Average price
- €147.6 per megawatt-hour
- Comparison period
- 1 September to 10 October
- Record position
- Third-highest autumn level since the market began in 1998
- 2021 average
- €168.1 per megawatt-hour
- 2022 average
- €238.2 per megawatt-hour
- 6 October price milestone
- Above €200 per megawatt-hour
Sources
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