Electric price hike on hold after auction annulled

The Competition Commission has overturned Thursday’s electricity auction, which caused an 11% raise in the price of electricity as from January, citing “atypical circumstances”. Wait – Spain has a Competition Commission? Since when? It does, and it’s called the CNMC. The CNMC refused to validate the results of the energy auction this morning, leaving the national government just 48 hours to decide whether to call for a new auction, or override the CNMC. In short: Continue reading Electric price hike on hold after auction annulled

Spain benchmark power price down 8 pct at auction

Spanish wholesale power prices used as a benchmark for retail prices in the coming quarter fell by 8.6 percent at a quarterly auction, organisers said on Wednesday. Spain’s power market is deregulated except for small consumers, who may choose between free-market or regulated “last resort” rates based on the so-called “Cesur” auction. http://mobile.reuters.com/article/idUSL6E7NL1ZF20111221?irpc=932 Posted from WordPress for Android – mobile blogging!