Overview

• On May 10, Spain's wholesale electricity prices averaged €2.21/MWh, the lowest since the April 28 blackout.
• For 11 hours, prices were zero or negative, reaching a low of -€15/MWh between 16:00 and 17:00.
• High photovoltaic, wind, and hydroelectric generation created an oversupply, forcing producers to sell at a loss.
• The maximum price for the day peaked at €35.01/MWh between 21:00 and 23:00 as renewable output declined.
• Regulated tariffs (PVPC) shield consumers from extreme price swings by incorporating futures markets and fixed charges.