Spain: Market Regulator to review spike in energy prices

Spanish regulator CNMC announced an investigation into the large fluctuations registered last week in the price of electricity in the national secondary market, seeking to prevent the increase from affecting consumers as well as to identify the reason for the sudden jump in prices.

The jump in the secondary electricity market caused the price per MWh to rise by up to 11.49 Euros on the night of Tuesday, May 7, a price that will be transferred directly to whoever is found to have generated the problem.

The strong adjustment and unusual behavior of the electricity market has been explained as a problem in wind generation, as well as problems in a combined cycle power plants. However, the CNMC will review the market to determine if more regulation is required to avoid these impacts.