1 Comment
author

I realise that I omitted to mention emissions anywhere in this post. I imagine some folks might be wondering what the emissions impact is of the gas cap. Since we can't quantifiably disentangle the primary causes for greater Spanish gas and coal burn (i.e. heatwave, low renewable generation and price cap), it is hard to say definitively whether and by how much emissions rose as a result of this policy.

I cited Aurora modelling in a previous post: https://www.energyflux.news/p/the-rain-in-spain-part-2

The modelling suggests emissions impact would be very low since some coal projects are pushed out of the merit order. But that same modelling also showed a huge decrease in wholesale prices, which hasn't really happened. So who knows.

Expand full comment