The wind energy drops the average price of the market to € 29 / MWh in Spain

Today Thursday is the day in which the average price of the lowest electricity market of the last 12 months is being marked, with 29 euros / MWh. And is that the generation of wind power in Spain has been very high. According to REE data, the demand share covered by wind turbines is reaching 50% in some hours of the day. So far in 2019, wind farm plants has covered 23% of the electricity demand in the peninsula being the second source of generation.

Despite this, the minimum hourly price that has been set in April, in the absence of the remaining days, has been 5 euros / MWh, remaining slightly above the 3.52 euros / MWh reached in March.

In these last two months there has been a decrease in the average price, as well as the maximum price and minimum hours, despite the fact that the price of CO2 continues to rise month by month reaching a value in April of 24.49 euros per tonne of CO2 It is for this reason, among others, that the price of April 2019 is 16% higher than that of 2018.

As of April 23, 3,479 GWh have been produced with wind during this month, still somewhat distant from the 2018 production in which 4,416 GWh were generated. On April 6, the coverage of the highest demand with wind technology was marked, supplying 37% of the demand in power plant bars.

On the other hand, in the month of March, wind power generation was 4,823 GWh, generating 17.8% less in the year than in 2018. Wind covered 24.4% of the demand in the peninsula in March and 13.1% in the Canary Islands. In March there was a 37% decrease in wind generation compared to 2018.

The average daily price in March fell reaching a value of € 48.82 / MWh, strengthening the downward trend of recent months. There is a decrease in the minimum and maximum prices, with a marked depressant effect in the days of higher wind farm production, and the pointing factor of the wind turbines remains at high values, with a value of 0.9747 so far this year.

The OMIP futures prices for the month of May 2019 are currently around € 52.75 / MWh for the base load, and € 55.67 / MWh for the peak cargo. There is a rise in the futures of the next quarters of 2019, which may be motivated by the rise in the recovery of the IVPEE and the rates on fossil fuels that entered into force on April 1.

All these data are collected in the last report of Market Tracking that AEE elaborates exclusively for its partners.