Electricity prices per MWh 'lowest in EU' this week
Saturday, March 31, 2018 @ 8:28 PM
ELECTRICITY in Spain became the cheapest in the European Union on Thursday and has remained so ever since – the second time this has happened in a fortnight.
Retail prices per megawatt per hour (MWh) dropped to €22.91 a week ago, then doubled on Wednesday, only to fall to €27.73 again the following day – a reduction of 37%.
This meant the price of energy in Spain fell far below those of Sweden, Norway and Denmark, which typically register the lowest in the EU and the EEA at around €41 per MWh, and even below Germany, which beat the Scandinavian countries at €38.
Meanwhile, France recorded retail power prices of €44.90 and Belgium €48, and in Italy and the UK it more than doubled Spain at €52 and €58 respectively.
This plummeting in costs is partly due to a greater production in wind energy providing electricity to the national grid – with storms having re-entered Galicia from the Atlantic this week and now sweeping Spain as a whole, wind farms have seen energy generated soar by 62.7% this month compared with March last year, to 6,937 gigawatts per hour (GWh), or 32.9% of the total, way ahead of nuclear sources, which made up just 19.2% of the total power created.
Read more at thinkSPAIN.com