Since March of this year, the monthly average price in the Spanish domestic market has consistently decreased, indicating a continued downward trend compared to the slight upward price trend observed in 2022. The average monthly price decrease has been at -0.14 EUR/MWh. Additionally, the market has experienced an average weekly price volatility of 2.31% during this period, which is higher than the 0.27% volatility observed in April.
In May, the entire trading volume of Spanish domestic Guarantees of Origin (GOs) was from 2023 production. Despite a significant increase in demand, the forward market for GOs remained illiquid. This lack of liquidity can be attributed to cautious behaviou…
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