October 28, 2024Renewables boosted their net savings in the electricity system by 41%, reaching 9.5 billion

Spain
Renewables boosted their net savings in the electricity system by 41%, reaching 9.5 billion

Wind and hydropower stopped receiving incentives in 2023, which led to a specific renewable compensation of 3.170 million euros and market savings of 12.745 million euros. The drop in electricity prices, from 167.52 €/MWh in 2022 to 87.10 €/MWh in 2023, reduced the sector’s contribution to GDP to 16.495 million euros, accounting for 1.13% of the national GDP.

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