Memo on the Spanish electricity market in December 2017.

In the month of December 2017 the average electricity price at the Spanish pool-market amounted to 57,94 €/MWh. Thereby the average price was 2,11% below the one of the previous month (November 2017) and 4,22% below the one of the reference month December 2016.

The last week of December 2017 was remarkable. The daily market prices in the week of December 25 to December 31 had an average of only 39,8 €/MWh. Up to that moment, the average value in December amounted to 63,23 €/MWh. The decrease of the average price in the last December-week happened due to a significant increase of the production of wind energy (increase by 112% towards the reference week in November 2017) and a seasonal reduction of the consumption of electricity, as well in Spain as in the electricity export-countries France and Portugal.
The value for December 2017 at the same time is 2,67% above the average pool-price of the month December of the last five years (2016: 60,49 €/MWh; 2015: 52,61 €/MWh; 2014: 47,47 €/MWh; 2013: 63,64 €/MWh).

The total calendar year 2017 closed with an average pool-price of 52,24 €/ MWh; that is an increase of 40,8% towards the previous year (2016: 39,67 €/MWh; 2015: 50,32 €/MWh); 2014: 42,13 €/MWh; 2013: 44,26€/MWh). Thereby the value is approximately 12% higher than the average annual pool-price of the last five years.

The highest daily average in December 2017 amounted to 76,54 €/MWh (December 5, 2017), due to a very low production of wind energy (101 GWh) and a high electricity consumption (812 GWh).

December 31, 2017 closed with the lowest daily average of 16,15 €/MWh, consequence of a high contribution of the wind energy to the generation mix (259 GWh).


Madrid, February 5, 2018

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