Spanish Power Prices Jump Fourfold in July as Cooling Use Surges
- Demand in heat wave has eclipsed high solar generation
- Prompt prices in Spain more expensive than in other countries
Water misters cool restaurant customers in Palma de Mallorca, Spain on July 18.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
A heat wave in Spain is boosting demand for air conditioning leading to higher power prices as gas plants fire up.
Hot air from Africa is pushing maximum temperatures to 44C in parts of Spain causing average day-ahead power prices to rise above equivalent contracts in Germany and France.