{"id":8752,"date":"2022-05-11T09:15:47","date_gmt":"2022-05-11T07:15:47","guid":{"rendered":"https:\/\/hayaenergy.com\/?page_id=8752"},"modified":"2026-09-18T09:43:07","modified_gmt":"2026-09-18T07:43:07","slug":"mafs_spanish-market-analysis","status":"publish","type":"page","link":"https:\/\/hayaenergy.com\/fr\/mafs_spanish-market-analysis\/","title":{"rendered":"Analyse du march\u00e9 Espagne (EN)"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"8752\" class=\"elementor elementor-8752 elementor-8738\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-153a8fc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"153a8fc\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-987347e\" data-id=\"987347e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bce509f elementor-widget elementor-widget-heading\" data-id=\"bce509f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Spanish Market Analysis<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8e15f01 elementor-widget elementor-widget-text-editor\" data-id=\"8e15f01\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Analysis of the Spanish energy market<\/strong> is key to understanding the dynamics and trends affecting the sector both locally and internationally. In this detailed analysis, we address the important factors influencing energy prices, supply and demand, and the latest regulatory policies. This comprehensive overview will allow you to keep up to date with weekly changes and anticipate possible market variations, both in Spain and in other relevant markets such as France.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e00df10 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e00df10\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0d2d195\" data-id=\"0d2d195\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-69e54c4 elementor-widget elementor-widget-heading\" data-id=\"69e54c4\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">August 2026June 2026<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9c41127 elementor-toc--minimized-on-tablet elementor-widget elementor-widget-table-of-contents\" data-id=\"9c41127\" data-element_type=\"widget\" data-settings=\"{&quot;headings_by_tags&quot;:[&quot;h2&quot;],&quot;exclude_headings_by_selector&quot;:[],&quot;no_headings_message&quot;:&quot;No headings were found on this page.&quot;,&quot;marker_view&quot;:&quot;numbers&quot;,&quot;minimize_box&quot;:&quot;yes&quot;,&quot;minimized_on&quot;:&quot;tablet&quot;,&quot;hierarchical_view&quot;:&quot;yes&quot;,&quot;min_height&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"table-of-contents.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-toc__header\">\n\t\t\t\t\t\t<h2 class=\"elementor-toc__header-title\">\n\t\t\t\tTable of Contents\t\t\t<\/h2>\n\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--expand\" role=\"button\" tabindex=\"0\" aria-controls=\"elementor-toc__9c41127\" aria-expanded=\"true\" aria-label=\"Ouvrir la table des mati\u00e8res\"><i aria-hidden=\"true\" class=\"fas fa-chevron-down\"><\/i><\/div>\n\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--collapse\" role=\"button\" tabindex=\"0\" aria-controls=\"elementor-toc__9c41127\" aria-expanded=\"true\" aria-label=\"Fermer la table des mati\u00e8res\"><i aria-hidden=\"true\" class=\"fas fa-chevron-up\"><\/i><\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<div id=\"elementor-toc__9c41127\" class=\"elementor-toc__body\">\n\t\t\t<div class=\"elementor-toc__spinner-container\">\n\t\t\t\t<i class=\"elementor-toc__spinner eicon-animation-spin eicon-loading\" aria-hidden=\"true\"><\/i>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1278342 elementor-widget elementor-widget-text-editor\" data-id=\"1278342\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><span style=\"font-size: 38px; background-color: var(--ast-global-color-5);\"><span style=\"font-size: 38px; color: #4bacc6;\"><b>Key figures of the month\u00a0<\/b><\/span><\/span><\/h2>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9ccfc4d elementor-widget elementor-widget-image\" data-id=\"9ccfc4d\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"768\" height=\"180\" src=\"https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Tendencies-Prices-EU-Haya-Energy-Solutions-1-768x180.png\" class=\"attachment-medium_large size-medium_large wp-image-20810\" alt=\"Table of mean energy market prices for France, Spain, Italy, the UK and Germany, including power, gas, coal and CO2 price indicators 2026.\" srcset=\"https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Tendencies-Prices-EU-Haya-Energy-Solutions-1-768x180.png 768w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Tendencies-Prices-EU-Haya-Energy-Solutions-1-300x70.png 300w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Tendencies-Prices-EU-Haya-Energy-Solutions-1-1024x240.png 1024w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Tendencies-Prices-EU-Haya-Energy-Solutions-1-1536x360.png 1536w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Tendencies-Prices-EU-Haya-Energy-Solutions-1-2048x480.png 2048w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3cb8379 elementor-widget elementor-widget-text-editor\" data-id=\"3cb8379\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\">Source: Haya Energy Solutions<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bb1b3b7 elementor-widget elementor-widget-text-editor\" data-id=\"bb1b3b7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"none\">In August 2026, electricity spot prices increased\u00a0sharply\u00a0across most major European markets. The upward movement was also visible in the forward market, with Power Cal\u201927 rising across all countries,\u00a0largely supported\u00a0by higher gas prices. More broadly, the increase in energy prices added renewed inflationary pressure to the European economy, particularly through higher electricity and fuel costs.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Spain,\u00a0France\u00a0and Germany remained in the lower range of monthly average electricity prices, between 115 and 130 \u20ac\/MWh. Spain was the lowest-priced power market in the region, with an average price of 118.24 \u20ac\/MWh, despite an increase of around 15 \u20ac\/MWh compared with July. France ranked second, averaging 122.80 \u20ac\/MWh, while Germany followed at 126.89 \u20ac\/MWh.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">By contrast, the UK recorded an average monthly price close to 150 \u20ac\/MWh. Italy once again stood out as the highest-priced market, averaging around 180 \u20ac\/MWh and moving closer to the 200 \u20ac\/MWh\u00a0level. This reflects the Italian generation mix\u2019s greater dependence on gas-fired technologies.\u00a0As a result, sharp increases in natural gas prices, such as those\u00a0observed\u00a0during August, tend to feed through more directly into wholesale electricity prices.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Overall, several European power markets recorded price peaks not seen since early 2023, highlighting the\u00a0magnitude\u00a0of the upward repricing experienced during the month.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">At the same time,\u00a0August also saw new daily solar PV generation records across several major European markets. New all-time daily highs for August were reached in Germany (491 GWh), Spain (277 GWh)\u00a0and France (190 GWh).<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">On the gas side, average spot prices stood broadly within the 60\u201362 \u20ac\/MWh range across most markets. Compared with July, gas prices increased across all countries, while Gas Cal\u201927 also moved higher on a month-on-month basis across all markets.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">As has been the case since the outbreak of the conflict, gas price formation remained\u00a0largely driven\u00a0by developments involving Iran,\u00a0Israel\u00a0and the United States. A more detailed review of the main developments during August and their impact on gas prices is provided in section 3.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">As for CO<\/span><span data-contrast=\"none\">\u2082<\/span><span data-contrast=\"none\">, prices increased from around 84\u00a0\u20ac\/t in July to 85\u00a0\u20ac\/t in August, extending the upward trend\u00a0observed\u00a0over recent months.\u00a0The monthly average in August was the highest recorded since February 2026.\u00a0Overall, the month was characterised by broad-based increases across the main energy commodities, with electricity, natural\u00a0gas\u00a0and CO<\/span><span data-contrast=\"none\">\u2082<\/span><span data-contrast=\"none\">\u00a0all moving higher.<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-83301da elementor-widget elementor-widget-text-editor\" data-id=\"83301da\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><span style=\"font-size: 38px; background-color: var(--ast-global-color-5);\"><span style=\"font-size: 38px; color: #4bacc6;\"><b>Energy demand and generation mix<\/b><\/span><\/span><\/h2>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-a4af3ed elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a4af3ed\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-4645f8e\" data-id=\"4645f8e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-53bd025 elementor-widget elementor-widget-image\" data-id=\"53bd025\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1024\" height=\"532\" data-src=\"https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Generation-Demand-Haya-Energy-Solutions-1024x532.png\" class=\"attachment-large size-large wp-image-20760 lazyload\" alt=\"Bar chart comparing monthly electricity generation and demand in GWh 2026\" data-srcset=\"https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Generation-Demand-Haya-Energy-Solutions-1024x532.png 1024w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Generation-Demand-Haya-Energy-Solutions-300x156.png 300w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Generation-Demand-Haya-Energy-Solutions-768x399.png 768w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Generation-Demand-Haya-Energy-Solutions-1536x798.png 1536w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Generation-Demand-Haya-Energy-Solutions.png 1803w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/532;\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fcc3b0f elementor-widget elementor-widget-text-editor\" data-id=\"fcc3b0f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\">Source: Haya Energy Solutions<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-ebd4ee5\" data-id=\"ebd4ee5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b798f91 elementor-widget elementor-widget-text-editor\" data-id=\"b798f91\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"none\">Spanish electricity demand reached 23,137 GWh in August 2026, while total generation stood at 25,462 GWh. Of this volume, around 2,325 GWh was scheduled for export.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Compared with July 2026, both electricity demand and generation decreased. However, on a year-on-year basis, both remained above the levels recorded in August 2025.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-ae145da elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ae145da\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-6e3f7b5\" data-id=\"6e3f7b5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6110854 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"6110854\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"none\">Renewables represented 53.6% of Spain\u2019s generation mix in August 2026, down from 54.2% in July 2026, but above the 52.2% recorded in August 2025. Solar PV\u00a0remained\u00a0the leading generation source, accounting for 29.24% of total output. This was above both July 2026 (28.48%) and August 2025 (24.82%).<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">CCGTs retained their position as the second-largest generation source, reaching 20.74% of total output, slightly above the 20.19% recorded in the previous month. Nuclear ranked third, contributing 18.60% of total generation, above July 2026 (18.30%) but below August 2025 (21.65%).<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">A particularly relevant\u00a0event\u00a0for the nuclear sector during the month was the Spanish Government\u2019s approval of the extension of operations at the Almaraz nuclear power plant until 8 June 2030. The decision\u00a0affects\u00a0both reactors and replaces the previously scheduled closure dates of November 2027 for Almaraz I and October 2028 for Almaraz II, extending their operating lives by approximately 31 and 19 months, respectively. Although the decision is specific to Almaraz and\u00a0does not\u00a0modify\u00a0the scheduled closure dates of Spain\u2019s other nuclear plants, it may signal a more flexible approach to nuclear lifetime extensions within the country\u2019s future energy policy.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-f6afd1f\" data-id=\"f6afd1f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a15cda6 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"a15cda6\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"843\" height=\"1024\" data-src=\"https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Energy-Mix-Haya-Energy-Solutions-843x1024.png\" class=\"attachment-large size-large wp-image-20751 lazyload\" alt=\"Stacked bar chart showing the electricity energy mix by source, including wind, PV, hydro, nuclear, CCGT and other generation technologies for Spain.\" data-srcset=\"https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Energy-Mix-Haya-Energy-Solutions-843x1024.png 843w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Energy-Mix-Haya-Energy-Solutions-247x300.png 247w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Energy-Mix-Haya-Energy-Solutions-768x933.png 768w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Energy-Mix-Haya-Energy-Solutions-1265x1536.png 1265w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Energy-Mix-Haya-Energy-Solutions-1686x2048.png 1686w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Energy-Mix-Haya-Energy-Solutions.png 1719w\" data-sizes=\"(max-width: 843px) 100vw, 843px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 843px; --smush-placeholder-aspect-ratio: 843\/1024;\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-999d859 elementor-widget elementor-widget-text-editor\" data-id=\"999d859\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\">Source: Haya Energy Solutions<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-f43b019 elementor-widget elementor-widget-text-editor\" data-id=\"f43b019\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"none\">Overall, solar PV continued to dominate Spain\u2019s generation mix during August, with its contribution\u00a0remaining\u00a0clearly above both CCGTs and nuclear. This reinforces the increasingly prominent role of solar generation within the Spanish power system.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">More broadly, the generation structure in August 2026 remained\u00a0very similar\u00a0to that\u00a0observed\u00a0in July, with only marginal changes in the contribution of the main technologies and no changes in their ranking. The year-on-year comparison shows a more visible shift: nuclear was the second-largest generation source in August 2025, ahead of CCGTs,\u00a0whereas\u00a0this ranking was reversed in August 2026.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-37c93e1 elementor-widget elementor-widget-text-editor\" data-id=\"37c93e1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><span style=\"color: #4bacc6; font-size: 38px;\"><b>Energy prices &amp; market panorama<\/b><\/span><\/h2>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1a32711 elementor-widget elementor-widget-image\" data-id=\"1a32711\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1024\" height=\"480\" data-src=\"https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Power-Prices-Spain-Haya-Energy-Solutions-1024x480.png\" class=\"attachment-large size-large wp-image-20763 lazyload\" alt=\"Line chart showing daily power prices in \u20ac\/MWh for 2026, with monthly benchmark price lines.\" data-srcset=\"https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Power-Prices-Spain-Haya-Energy-Solutions-1024x480.png 1024w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Power-Prices-Spain-Haya-Energy-Solutions-300x141.png 300w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Power-Prices-Spain-Haya-Energy-Solutions-768x360.png 768w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Power-Prices-Spain-Haya-Energy-Solutions-1536x720.png 1536w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Power-Prices-Spain-Haya-Energy-Solutions-2048x960.png 2048w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/480;\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-776f918 elementor-widget elementor-widget-text-editor\" data-id=\"776f918\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\">Source: Haya Energy Solutions<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d5bb928 elementor-widget elementor-widget-text-editor\" data-id=\"d5bb928\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"none\">Spain\u2019s average wholesale electricity price stood at 118.24 \u20ac\/MWh in August 2026, above the 104.75 \u20ac\/MWh recorded in July. This marked the fourth consecutive monthly increase in the average power price. The intraday pattern highlighted in\u00a0previous\u00a0editions remained in place, with solar generation continuing to depress prices during the central hours of the day before prices recovered once PV output faded. However, the overall price environment shifted markedly higher during August.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Looking at the daily average price profile,\u00a0all\u00a0days\u00a0of the month remained above 80 \u20ac\/MWh,\u00a0illustrating the consistently elevated price environment. The monthly peak was reached on 17 August at 157.35 \u20ac\/MWh, while the lowest daily average, 85.15 \u20ac\/MWh, was recorded on 23 August. More broadly, prices showed considerable day-to-day variability. Across both July and August, the profile followed a clear \u201csaw-tooth\u201d pattern rather than a sustained upward or downward trend, reflecting the sensitivity of power prices to daily renewable availability. Lower wind and solar generation increased the need for gas-fired generation to\u00a0cover\u00a0demand,\u00a0generally resulting\u00a0in higher daily wholesale prices.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Despite the strong increase recorded during the month, Spain remained one of the most competitive major power markets in Europe in terms of average monthly prices. The high penetration of solar PV continued to provide an important price-mitigating effect, particularly when compared with more gas-dependent markets such as Italy, where the average wholesale electricity price reached around 180 \u20ac\/MWh in August.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">On the regulatory side, despite the strong increase in wholesale power prices, the 15% year-on-year electricity CPI threshold\u00a0established\u00a0under RDL 18\/2026 was not exceeded. Consequently, the temporary reductions in electricity VAT and excise duty foreseen for August and September were not activated.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-958cf22 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"958cf22\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-238b1d2\" data-id=\"238b1d2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-58f9840 elementor-widget elementor-widget-text-editor\" data-id=\"58f9840\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"none\">The average natural gas price in the Spanish market stood at 62.18 \u20ac\/MWh in August 2026, up from 55.50 \u20ac\/MWh in July. Prices followed a clear upward trend throughout the month,\u00a0ultimately exceeding\u00a070 \u20ac\/MWh on 31<\/span><span data-contrast=\"none\">st<\/span><span data-contrast=\"none\">\u00a0August, marking the highest level recorded so far in 2026. Overall, gas prices increased by around 35% between 5 and 31 August.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-cb1dc64\" data-id=\"cb1dc64\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-79b5904 elementor-widget elementor-widget-image\" data-id=\"79b5904\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1024\" height=\"460\" data-src=\"https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Gas-Prices-Spain-Haya-Energy-Solutions-1024x460.png\" class=\"attachment-large size-large wp-image-20757 lazyload\" alt=\"Line chart showing daily gas prices in \u20ac\/MWh for 2026, with monthly benchmark price lines.\" data-srcset=\"https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Gas-Prices-Spain-Haya-Energy-Solutions-1024x460.png 1024w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Gas-Prices-Spain-Haya-Energy-Solutions-300x135.png 300w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Gas-Prices-Spain-Haya-Energy-Solutions-768x345.png 768w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Gas-Prices-Spain-Haya-Energy-Solutions-1536x690.png 1536w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Gas-Prices-Spain-Haya-Energy-Solutions-2048x921.png 2048w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/460;\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c435103 elementor-widget elementor-widget-text-editor\" data-id=\"c435103\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\">Source: Haya Energy Solutions<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-6b953e6 elementor-widget elementor-widget-text-editor\" data-id=\"6b953e6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"none\">The upward move was\u00a0mainly driven\u00a0by renewed geopolitical tensions involving the United States,\u00a0Israel\u00a0and Iran, which continued to disrupt traffic through the Strait of Hormuz and constrain global LNG supply, particularly flows from Qatar. At the same time, Europe\u2019s gradual phase-out of Russian gas imports reduced alternative supply options, while maintenance works at Norwegian facilities temporarily limited pipeline flows from Europe\u2019s main gas supplier.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">During the first half of August, expectations of a normalisation in shipping conditions weakened as US-Iran negotiations remained stalled and further tanker attacks reduced traffic through the Strait. Tensions increased further around 17 August, when the 60-day negotiation window\u00a0established\u00a0under the June memorandum of understanding expired without a final agreement or extension. Iran\u00a0subsequently\u00a0reiterated that the Strait would remain closed until the United States met the conditions of the interim agreement, while Washington confirmed that no further talks were scheduled. As a result, expectations of a rapid restoration of oil and LNG flows through Hormuz faded, reinforcing the geopolitical risk premium embedded in both natural gas and oil prices.<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e189479 elementor-widget elementor-widget-text-editor\" data-id=\"e189479\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><span style=\"font-size: 38px; color: #4bacc6;\"><b>Market trends and futures<\/b><\/span><\/h2>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-afe30ac elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"afe30ac\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-ce6404f\" data-id=\"ce6404f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c6b79d4 elementor-widget elementor-widget-image\" data-id=\"c6b79d4\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"487\" height=\"572\" data-src=\"https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Futures-Prices-Spain-Haya-Energy-Solutions.png\" class=\"attachment-large size-large wp-image-20754 lazyload\" alt=\"Table comparing two months forward prices for power, gas and CO2, including percentage changes by delivery period.\" data-srcset=\"https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Futures-Prices-Spain-Haya-Energy-Solutions.png 487w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Futures-Prices-Spain-Haya-Energy-Solutions-255x300.png 255w\" data-sizes=\"(max-width: 487px) 100vw, 487px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 487px; --smush-placeholder-aspect-ratio: 487\/572;\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-25532a5 elementor-widget elementor-widget-text-editor\" data-id=\"25532a5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\">Source: Haya Energy Solutions<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-e6d20c0\" data-id=\"e6d20c0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7546d16 elementor-widget elementor-widget-text-editor\" data-id=\"7546d16\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"none\">Spanish electricity forward prices moved higher across all products in August 2026,\u00a0marking the fourth consecutive month of broad-based increases. The strongest\u00a0increases\u00a0were concentrated in the\u00a0short-term\u00a0products, with all monthly and quarterly contracts under review increasing by more than 10%. The largest rise was recorded in Q1-2027, which increased by more than 15%. By contrast,\u00a0the longest-dated product, Cal-2028, rose by only slightly more than 1%. This divergence suggests that the market continues to\u00a0interpret\u00a0the current price pressures as predominantly\u00a0short-\u00a0to\u00a0medium-term, while\u00a0maintaining\u00a0expectations of a more\u00a0favourable\u00a0environment further along the horizon.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Gas forward prices also increased across all products compared with the previous month. All monthly and quarterly contracts rose by more than 15%, while Cal-2027 also recorded an increase of more than 10%. This broad-based repricing is consistent with the developments described in the\u00a0previous\u00a0section, particularly the renewed geopolitical risk surrounding the conflict involving Iran and the United States, together with the progressive reduction of Russian gas imports into Europe.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7ec369e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7ec369e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a09dbc7\" data-id=\"a09dbc7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9edffca elementor-widget elementor-widget-text-editor\" data-id=\"9edffca\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"none\">Regarding\u00a0storage levels, natural gas inventories in the European Union currently stand at 65.39% of capacity, around 10 percentage points above the previous month. Despite this improvement, storage\u00a0remains\u00a0at its lowest level for this time of year in recent years. In Spain, gas inventories stand at 73.45%, only around 1 percentage point above the previous month.\u00a0However, the European gas market\u00a0remains\u00a0highly interconnected, meaning that higher storage levels in individual countries provide only partial insulation from broader regional and global supply pressures.\u00a0Storage levels ahead of the winter season therefore remain an important driver of gas\u00a0price expectations and, indirectly, of winter power prices.\u00a0In this context, the recent increase in gas prices\u00a0represents\u00a0an\u00a0additional\u00a0source of pressure for the upcoming winter period.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">CO<\/span><span data-contrast=\"none\">\u2082<\/span><span data-contrast=\"none\">\u00a0prices also moved higher during the month, extending the upward trend\u00a0observed\u00a0over the previous four months. The increase was supported by the broader bullish environment across energy markets, particularly higher\u00a0gas\u00a0and power prices, as well as the geopolitical risk associated with developments in the Middle East.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Regulatory developments also progressed during August. On 13 August, a draft resolution was\u00a0submitted\u00a0for public consultation to advance the implementation of RD 88\/2026, further developing the independent aggregator framework and the operational and metering arrangements required for aggregated demand to\u00a0participate\u00a0in electricity markets.\u00a0<\/span><span data-contrast=\"none\">The\u00a0proposal\u00a0remains\u00a0under\u00a0regulatory\u00a0development.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-afee348 elementor-widget elementor-widget-text-editor\" data-id=\"afee348\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><span style=\"color: #4bacc6; font-size: 38px;\"><b>Energy graphics<\/b><\/span><\/h2>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-49f946f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"49f946f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-0c5f287\" data-id=\"0c5f287\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-18abed1 elementor-widget elementor-widget-heading\" data-id=\"18abed1\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">SP Base Power price (\u20ac\/MWh)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-261eff6 elementor-widget elementor-widget-html\" data-id=\"261eff6\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<iframe title=\"SP Base Power price (\u20ac\/MWh)\" aria-label=\"Line chart\" id=\"datawrapper-chart-gt3f4\" data-src=\"https:\/\/datawrapper.dwcdn.net\/gt3f4\/92\/\" scrolling=\"no\" frameborder=\"0\" style=\"border: none;\" width=\"648\" height=\"401\" data-external=\"1\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"0\"><\/iframe>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-80304b9 elementor-widget elementor-widget-heading\" data-id=\"80304b9\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">EUA price (\u20ac\/Tn)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f6b90c0 elementor-widget elementor-widget-html\" data-id=\"f6b90c0\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<iframe title=\"EUA price (\u20ac\/Tn)\" aria-label=\"Line chart\" id=\"datawrapper-chart-mXgaA\" data-src=\"https:\/\/datawrapper.dwcdn.net\/mXgaA\/231\/\" scrolling=\"no\" frameborder=\"0\" style=\"border: none;\" width=\"648\" height=\"396\" data-external=\"1\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"0\"><\/iframe>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fd2c9d1 elementor-widget elementor-widget-heading\" data-id=\"fd2c9d1\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Clean Spark Spread - Base \u20ac\/MWh)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c4e35a8 elementor-widget elementor-widget-html\" data-id=\"c4e35a8\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<iframe title=\"Clean Spark Spread - Base \u20ac\/MWh)\" aria-label=\"Line chart\" id=\"datawrapper-chart-SBJPQ\" data-src=\"https:\/\/datawrapper.dwcdn.net\/SBJPQ\/219\/\" scrolling=\"no\" frameborder=\"0\" style=\"border: none;\" width=\"648\" height=\"403\" data-external=\"1\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"0\"><\/iframe>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2016e32 elementor-widget elementor-widget-heading\" data-id=\"2016e32\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Clean Dark Spread - Base \u20acMWh<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d327230 elementor-widget elementor-widget-html\" data-id=\"d327230\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<iframe title=\"Clean Dark Spread - Base \u20acMWh\" aria-label=\"Line chart\" id=\"datawrapper-chart-Upuw4\" data-src=\"https:\/\/datawrapper.dwcdn.net\/Upuw4\/231\/\" scrolling=\"no\" frameborder=\"0\" style=\"border: none;\" width=\"648\" height=\"396\" data-external=\"1\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"0\"><\/iframe>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-1ad080b\" data-id=\"1ad080b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ecb6179 elementor-widget elementor-widget-heading\" data-id=\"ecb6179\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">SP Peak Power price (\u20ac\/MWh)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-df19550 elementor-widget elementor-widget-html\" data-id=\"df19550\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<iframe title=\"SP Peak Power price (\u20ac\/MWh)\" aria-label=\"Line chart\" id=\"datawrapper-chart-G2Ady\" data-src=\"https:\/\/datawrapper.dwcdn.net\/G2Ady\/89\/\" scrolling=\"no\" frameborder=\"0\" style=\"border: none;\" width=\"648\" height=\"396\" data-external=\"1\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"0\"><\/iframe>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f1584c9 elementor-widget elementor-widget-heading\" data-id=\"f1584c9\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">MIBGas price (\u20ac\/MWh)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1518fef elementor-widget elementor-widget-html\" data-id=\"1518fef\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<iframe title=\"MIBGas price (\u20ac\/MWh)\" aria-label=\"Line chart\" id=\"datawrapper-chart-za2vp\" data-src=\"https:\/\/datawrapper.dwcdn.net\/za2vp\/90\/\" scrolling=\"no\" frameborder=\"0\" style=\"border: none;\" width=\"648\" height=\"396\" data-external=\"1\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"0\"><\/iframe>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b0a1faf elementor-widget elementor-widget-heading\" data-id=\"b0a1faf\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Clean Spark Spread - Peak (\u20ac\/MWh)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cc5a661 elementor-widget elementor-widget-html\" data-id=\"cc5a661\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<iframe title=\"Clean Spark Spread - Peak (\u20ac\/MWh)\" aria-label=\"Line chart\" id=\"datawrapper-chart-7gTmm\" data-src=\"https:\/\/datawrapper.dwcdn.net\/7gTmm\/219\/\" scrolling=\"no\" frameborder=\"0\" style=\"border: none;\" width=\"648\" height=\"396\" data-external=\"1\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"0\"><\/iframe>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e0287f7 elementor-widget elementor-widget-heading\" data-id=\"e0287f7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Clean Dark Spread - Peak (\u20acMWh)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-002904a elementor-widget elementor-widget-html\" data-id=\"002904a\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<iframe title=\"Clean Dark Spread - Peak (\u20acMWh)\" aria-label=\"Line chart\" id=\"datawrapper-chart-6vDz5\" data-src=\"https:\/\/datawrapper.dwcdn.net\/6vDz5\/256\/\" scrolling=\"no\" frameborder=\"0\" style=\"border: none;\" width=\"648\" height=\"403\" data-external=\"1\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"0\"><\/iframe>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Spanish Market Analysis Analysis of the Spanish energy market is key to understanding the dynamics and trends affecting the sector both locally and internationally. In this detailed analysis, we address the important factors influencing energy prices, supply and demand, and the latest regulatory policies. This comprehensive overview will allow you to keep up to date [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"site-sidebar-layout":"no-sidebar","site-content-layout":"page-builder","ast-site-content-layout":"full-width-container","site-content-style":"unboxed","site-sidebar-style":"unboxed","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - 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