The week between February and March was the cheapest in history, breaking a record that dated back to the spring of 2013. In March and so far in April, waterfalls have increased their production by more than 140% compared to the same period of the previous year.
This torrent of hydraulic energy, together with the contagion effect from the rest of Europe - where negative prices have been a common currency for months - have brought the first values below zero in history to the Spanish wholesale market. But more and more voices warn that, if they are sustained over time - something unlikely: they will rise as summer approaches - they will end up putting a dent in the necessary investment in renewables. The flood of renewable production has had a great impact on the structure of the peninsular electricity market. Since February 1, the consumption of this fuel has accumulated in thermal power plants has accumulated a drop of almost 40%. This low ratio of combined cycles is likely to continue in the coming months, according to the recent figures provided by Enagás.