GEM Energy Analytics • 179 implied HN points • 22 Apr 24
- Spain is currently experiencing negative prices in the energy market, meaning they pay less than zero for electricity. This is a first for the country and has happened multiple times in April 2024.
- There is a record amount of energy stored in Spanish hydro reservoirs, which is leading to very low electricity prices. These reservoirs have more energy than has been seen in the past ten years.
- The capture rates for solar energy are extremely low, with some months showing just 20%. This indicates that solar power is not being used efficiently, especially when prices are so low.