Storm Drives Spanish Windmills, Cuts Power Rate to 15-Month Low

[jpak]

http://www.bloomberg.com/apps/news?pid=20601109&sid=aIJOZZzhfAYI&refer=home

Feb. 13 (Bloomberg) -- Spanish weekly electricity prices fell to a 15-month low after a storm powered wind turbines.

That allowed utilities to reduce production from more expensive generators that burn coal or natural gas.

Prices for wholesale power delivered Monday through Friday averaged 40.28 euros ($51.46) a megawatt-hour, the lowest work week since October 2007, data from market operator Omel showed.

Atlantic winds have blown through the main generating regions of Castile and Galicia at more than twice the 5-year average this week, Bloomberg data shows. Wind-power generation averaged 176 gigawatt-hours a day for the first four days this week, filling about 21 percent of total demand, according to data from Spanish grid operator Red Electrica Corporacion SA.

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