Spain electricity prices drop to 1 euro/MWh for five hours

Electricity wholesale prices in Spain experienced extreme volatility on Wednesday, September 9, with prices dropping to 1 euro/MWh for five hours during the morning and early afternoon. This sharp decline is attributed to solar energy surpluses during midday hours.

Despite these low points, the daily average price was recorded at 107.76 euros/MWh. The market showed a significant price spread, with the most expensive period occurring between 20:00 and 21:00 at 205.52 euros/MWh. This contrast highlights the importance of shifting heavy electricity consumption to midday hours to reduce costs for regulated consumers.

Factors influencing broader European energy trends include international gas prices and the cost of CO2 emission rights, though the daily average in Spain has been impacted by gas price caps.