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Iberia power prices ease lower on gathering winds
March 14, 2012 / 4:22 PM / 6 years ago

Iberia power prices ease lower on gathering winds

* Day-ahead base 51.13 euros/MWh, down 0.85 euros

* Hydropower reserves edge higher

MADRID, March 14 (Reuters) - Iberian power prices posted mild losses on Tuesday due to estimates wind power would increase and reduce the grid’s reliance on more expensive plants which burn coal and gas.

National grid operator REE predicted the total production of coal- and gas-fired generators would decline to 201 gigawatt-hours on Thursday from 214 GWh on Wednesday in Spain, which typically accounts for 85 percent of Iberian Electricity Market (Mibel).

The Mibel’s spot exchange, OMIE, set the closely observed “pool” price for Thursday at 51.13 euros ($67.03) per megawatt-hour, down from a level of 51.98 euros fixed on Tuesday for Wednesday.

Official data showed hydropower reserves rose marginally after falling for months, which may ease upside pressure on wholesale prices. ($1 = 0.7628 euros)

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