Spanish power price drops 30% on plunging demand
Spanish baseload electricity prices on power exchange Omel fell by 12.6% in January to an average of €49.93 per megawatt hour, marking a 30% drop in the past 4 months.
The price fall has been driven by Spain's grim economic situation as the downturn has taken hold. Spain's industrial output dropped 19.6% in December last year according to the latest data from the country's statistics office, and traded volumes on Omel fell 13.1% in January.
Meanwhile, average January baseload power prices on the Nordic region's Nord Pool exchange fell 7% to €41.41 /MWh, and on
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