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Thu Apr 19, 2012, 09:23 AM

UPDATE 1-Spain spot power at 2-year low, wind smashes record [View all]

http://www.reuters.com/article/2012/04/18/markets-iberia-power-idUSL6E8FIEM520120418

MADRID, April 18 (Reuters) - Spanish spot power prices sank to their lowest levels in two years on Wednesday as cheap supplies of wind power climbed high above previous records.

The Iberian Electricity Market's (Mibel) spot exchange, OMIE, set the day-ahead "pool" price at 22.69 euros ($29.82) per megawatt-hour, down 11.75 euros on the day and the lowest for a full working day since it fixed a price of 21.41 euros for April 8, 2010.

By 1520 GMT, Spanish wind parks - the world's fourth-most productive - were producing 16,513 megawatts, or enough to meet 43.3 percent of demand, according to data from national grid operator REE.

<snip>.

Wind power weighs on the "pool" price because it displaces costlier coal- and gas-burning plants from the generation mix.

<more>

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Reply UPDATE 1-Spain spot power at 2-year low, wind smashes record [View all]
jpak Apr 2012 OP
BlueToTheBone Apr 2012 #1
AlecBGreen Apr 2012 #2
kristopher Apr 2012 #3