Heavy rainfalls and strong winds in the recent weeks in Spain have led to soaring hydropower and wind generation (30% and 19%, respectively, of total power generation between 1 April and 5 April 2013). This also led to falling wholesale electricity prices, as peak production plants, which set the prices, did not enter the market. Due to the last renewable market reforms, renewable electricity producers had to choose between the market price or a fixed regulated price, which was opted for by the bulk of producers. These producers continue to sell their power on the wholesale market, whatever its price, offering a null price to ensure its sale. Nuclear and thermal power plants had to adapt to these low prices to sell their own production. On 28 March, the average price was €0.13/MWh. In the last two weeks, the daily market price of electricity averaged €23.88/MWh, i.e. half of the 2012 average (€48.07/MWh).
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