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Spanish Electricity Costs 67% Less German Power

  • Spanish group of large energy users releases report on prices
  • The EU says it’s preparing to intervene in the energy market
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WATCH: DIW Analyst Claudia Kemfert explains why gas price caps are not the answer for Germany.Source: Bloomberg

Spanish electricity cost less than half of what German power did in the market in August as it benefited from a cap on natural gas prices, according to Spain’s association of large energy users.

The average price for electricity in Spain’s wholesale market in August was 154.89 euros ($156) per megawatt-hour, without including a cost related to the cap, the AEGE group said. That was 67% less than in the German market and 69% less than in the French market, it said in a survey released Wednesday. Spanish prices are still significantly lower when the cap is added.