Spanish Electricity Costs 67% Less German Power - 01 septembrie 2022
Spanish electricity cost less than half of what German power did in the market in August as it benefited from a cap on natural gas prices, according to Spain’s association of large energy users.
The average price for electricity in Spain’s wholesale market in August was 154.89 euros ($156) per megawatt-hour, without including a cost related to the cap, the AEGE group said. That was 67% less than in the German market and 69% less than in the French market, it said in a survey released Wednesday. Spanish prices are still significantly lower when the cap is added.
In Spain, the difference between the capped prices and real prices of gas is paid through a compensation mechanism that’s funded by a special charge on the bills of all electricity users, including those who use renewable sources. In August, the compensation charge averaged 152.91 euros per megawatt-hour, according to AEGE.