Spanish Power Is Almost Free With Renewables Set for Record
- Prices in Spain are near €2/MWh, compared with €67 in France
- Strong solar and wind generation is expected to continue
Workers install a solar panel in Barcelona.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
Electricity prices in Spain slumped to almost nothing as the nation’s wind and solar parks are churning out more power than ever.
Day-ahead prices have remained below €10 per megawatt-hour for the last week and output in the Mediterranean nation is on track for a record this month. Daily solar production on Wednesday jumped to the highest since early October and the surge is likely to last into March, according to a Bloomberg Model.