In March, the average hourly price on the Iberian Electricity Market (Mibel) in Portugal was 90.1 euros per megawatt hour (MWh), and this figure stood at 96.7 MWh for the accumulated first 3 months.
About 74% of the 3.429 GWh (gigawatt-hours) of electricity generated in March in mainland Portugal had a renewable origin, according to data from the Portuguese renewable energy association (APREN), released on Wednesday.
“In mainland Portugal 3.429 GWh of electricity were generated in March 2023, of which 74.3% was of renewable origin,” APREN said in a statement, explaining that “the 12.3% increase compared to March 2022 is due to the decrease in fossil incorporation, with 668 GWh having been produced, compared to 1.557 GWh in March 2022.”
From January to March, the electric production sector emitted a total of 0.9 million tons of carbon dioxide equivalent (MtCO2eq), while the renewable electricity sector avoided the emission of 2.7 MtCO2eq and the expenditure of 604 and 374 million euros in the import of natural gas and electricity, respectively, the association indicated.
In March, the average hourly price on the Iberian Electricity Market (Mibel) in Portugal was 90.1 euros per megawatt hour (MWh), and this figure stood at 96.7 MWh for the accumulated first three months of the year.
According to APREN, from 15 June 2022, when the Iberian natural gas price cap mechanism came into operation, until 31 March, it generated a saving of 34.8 euros/MWh, which was equivalent to a reduction of 16.7% in the average hourly price in Mibel.
The savings due to the natural gas price cap, corresponding to the difference between the price without the mechanism and the price with the compensation payable to natural gas power plants, reached a maximum value of 157.2 euros/MWh and a minimum of 0 euros/MWh.
In total, 148.8 of the 215.8 terawatt-hours (TWh) produced were subject to the consumer adjustment mechanism in the Iberian Peninsula.
APREN data also indicate that the National Electricity System recorded, between January and March, an import balance of 1.225 GWh, with electricity exports of 1.257 GWh and imports of 2.482 GWh.