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    From free electricity to 122 euros: Fiend Fiend sends electricity prices out of control

    January 17, 2023 - CE Noticias Financieras


      The daily electricity market continues to show its volatility in its pure state. The two squalls of air and cold that are leaving temperatures below zero in much of Spain will cause that during the early hours of this Wednesday, the price of electricity is practically free.

      A situation that already occurred at Christmas, when on New Year's Eve Spaniards attached to the PVPC rate did not pay a single cent to turn on the oven or light their homes.

      If this Tuesday's prices also reached almost zero, and the average pvp today is around 5 euros, Wednesday will be the circumstance that will be paid from 0.1 euros per megawatt per hour to 122.7 euros in the final hours of the day.

      Specifically, it will be from seven o'clock in the evening when the price of electricity will rise and will reach its peak at 9 p.m., with the 122.7 euros mentioned above.

      These fluctuations are largely due to the use of renewable energy, especially wind power. Thanks to the wind from the two squalls, this technology exceeds 50% of production. The Fien squall will leave the Iberian Peninsula from this afternoon-evening, so wind power will have less weight in the system.

      Ribera is confident of exporting electricity

      The third vice-president for Ecological Transition and Demographic Challenge, Teresa Ribera, has warned that the corridor that should transport green hydrogen between Barcelona and Marseille will be operational "around 2028 or 2029, not 2025 or 2026" and is confident that Spain will export part of the electricity produced thanks to the potential of renewables.

      In an interview on TV3, he insisted that the infrastructure "requires long deadlines" and demanded its financing with European funds, understanding that it is of community interest and not only of Portugal, Spain and France.

      Thus, she detailed that in 2023 the European Commission will confirm if it is indeed of interest to the Community club, that if so, the European resources will arrive in 2024 and that "immediately afterwards" the works will begin, since she has defended that the planning work be carried out beforehand.

      The vice-president predicted that H2Med will also boost the reindustrialization related to the economy of the future and has opted for "developing storage techniques" to use renewable energies in cases where electricity cannot be used.


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