In the first fortnight of the year, wholesale prices have risen by 67% while wind power generation has fallen by 50%. AEE has a new section, Wind power and the price of electricity, which contains answers to different questions related to wind power and its effect on prices.
Madrid, 20th January 2015. It´s a fact that wind power reduces the price of electricity: the more the wind blows, the lower the pool or wholesale electricity market price is, which benefits consumers and companies in their electricity bills.
To make this lowering effect of wind power on prices more evident to consumers, the Spanish Wind Energy Association (AEE) has launched its wind barometer, where you can daily see the inverse relationship between the wholesale price and the wind power generation. To see the wind power barometer, click here.
In addition to the barometer, AEE has a new section, Wind power and the price of electricity, on its website, which contains answers to different questions related to wind power and its effect on prices. Why does wind power reduce the market price? When is the influence of wind power on the electricity prices more evident? How much does wind power reduce the electricity bill to Spanish consumers and companies? To see the section, click here.
The effect of wind power on prices is very clear in the first two weeks of 2015: the average daily market price, which is the basis for calculating the energy term of the electricity bill- has been situated in 55.66 euros/MWh, representing an increase of more than 67% over the same period of last year. Why is this so? Wind power production, according to provisional data of the Spanish Transmission System Operator (REE) on January 15th, was 1,494 GWh, 50% lower than in the early days of 2014.