2023-10-07 02:29:25
No matter how hard Teresa Ribera, acting minister of Ecological Transition, tries, the average price of electricity in the large European economies (Germany, France, the United Kingdom, Italy and the Netherlands) was 3% lower than that registered in Spain last month of September. The average for these countries was 100.4 euros per megawatt hour, below the daily price of electricity in the Spanish wholesale market. The so-called “pool” closed at 103.34 euros MWh, 7.6% more expensive than in August, although 57.6% below its level a year ago.
On the other hand, France scored the lowest (88.71 euros/MWh) with the recovery of a good part of the French nuclear park stopped for technical safety reviews, Italy the highest (116.36 euros/MWh) and Germany came very close average, with 100.72 euros/MWh.
The prices of the French wholesale market in the first half of the year reached 110.8 euros per MWh, above those of the Iberian market in the same period (88.4 euros/MWh) and this despite the fall in the cost in the neighboring country about the previous months, in which the closure of nuclear reactors was accused. However, the tables have turned and Spain already pays 16.5% more expensive electricity than France, while it has gone from being a net exporter of electricity on the other side of the Pyrenees to returning to normal and be an importer.
During the first half of 2023, France managed to reverse its role as a net importer, thanks to an increase in domestic electricity generation and a decrease in national demand. This recovery allowed the French country to generate electrical surpluses for export, including those with high dependence on French electricity. In 2022, for the first time since 1980, France became an energy importer coinciding with the maintenance interruptions of part of its nuclear park, but in the first half of this year it has already regained the throne of the EU’s main exporter.
According to EDF, in the first half of the year, exports increased by 57% and imports decreased by 13.8%, compared to the same period last year. Exports were mainly directed to the United Kingdom (11.3 TWh), Italy and Switzerland (10.9 TWh each).
Precisely, it has been the imports from France that have meant that the cost was not even higher for the pockets of the Spanish since the average daily wind production decreased by 12.8% and photovoltaic production by 20.72%; while the so-called thermal gap (thermal and combined cycles) reached 23.5% of the generation “mix”, its maximum so far this year, according to data collected by the energy consultancy ASE.
Gas plants and adjustable hydraulic technology marked the price of electricity in the wholesale market in 70% of the hours in September. The cost of adjustable hydraulics in September was 106.65 euros/MWh, focusing its participation on the peak hours at the end of the day (between 8:00 p.m. and 11:00 p.m.); while that of the combined cycles was 87.20 euros/MWh.
In the case of the cycles, their participation was also high in the central hours of the day and their greater activity also influenced the lower nuclear contribution, since the Vandellós II plant carried out an unscheduled shutdown since September 20 for a incidence.
The average price per megawatt hour in Spain meanwhile continues along the same path, exceeding 100 euros. Except for the start of October, which coincided with a Sunday so demand was lower, and today, the average price per MWh has exceeded 100 euros.
Thus, with the cost data until this Saturday (99.16 euros MWh), the first seven days of the month show an average close to 104 euros per MWh, even above the records of last August and on the upward path that has begun last July.
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