2026-08-17Updated 2026-09-08BESS

Spanish BESS spread hits €237/MWh: a 148% premium to baseline

The 27 July 2026 intraday spread in the ES zone reached the 99th percentile of a 730-day sample, z-score 3.86.

By Matthias Blank · drafted with the Vantage newsroom system, approved before publication

Key takeaways

The ES daily BESS spread on 27 July 2026 was €237.33/MWh, 148% above the €95.74/MWh two-year baseline and a z-score of 3.86 across 730 observations.
Week W30 recorded 22 negative hours in the ES zone, the highest count in the tracked region and three times the 7 negative hours logged in the same week last year.
Wind supplied only 14.8% of ES generation in W30 vs 23.3% a year earlier (an 8.5-percentage-point deficit) while load ran 13.9% above the prior-year level.
The ES week-mean price of €114.95/MWh represents a 110.1% YoY increase, the second-largest gain across all tracked zones after Portugal (+115.6%).
The W30 daily spread averaged €167.74/MWh across the week, with a single-day peak of €270.50/MWh on 23 July and a trough of −€12.11/MWh on 26 July.
EUA carbon settled at €83.07/t on the week, up 7.9% from the prior close, adding to the marginal cost of thermal generation that sets peak prices.

The Spanish zone BESS spread reached €237.33/MWh on 27 July 2026: 147.9% above the two-year baseline of €95.74/MWh and the highest single-day value in a 730-day sample window, sitting at the 99th percentile with a z-score of 3.86.

Photo by mohamed abdelghaffar on Pexels.

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