The Iberian power prices are falling on weather forecasts

23/07/2010 08:00 Electricity Market

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Spain electricity demand eases on lower temperatures

The weather forecasts are showing maximum temperatures of 31 degrees Celsius in Madrid, compared to 36 degrees at the moment. The price of a MWh dropped from its record level of 46.51 euros to 44.86 euros, according to the Spanish division of the Iberian electricity market, Omel. The prices were as well influenced by forecasts that wind power will have a significant boost from 4,400 MW to 6,400 MW on Thursday, expected to increase even more than that. Spain consumption represents over 85% of the total Iberian market, with a total consumption of 780 GWh per day.

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