Renewables and Nuclear Shield Spain from Gas Price Surge

Summary

Spain's electricity prices are being kept relatively stable thanks to the buffering effect of renewables and nuclear power, which are offsetting pressure from rising gas costs amid regional conflict. According to energy consultancy Grupo ASE, the average pool price over the next year could range from €60.6 per megawatt-hour in the best-case scenario to €101 in the worst case, depending on how long the conflict lasts. The divergence highlights how Spain's energy mix could prove a key insulator against geopolitical shocks to gas markets.

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