TY - GEN
T1 - Analysis of Near-Zero Prices in the Iberian Electricity Market and Their Impact on the Profitability of Renewable Photovoltaic Plants
AU - Mendoza, Jesus Eduardo Ramirez
AU - Ropero, Iraide L.
AU - Santamaria, Itxaso Aranzabal
AU - Gonzalez-Garrido, Amaia
N1 - Publisher Copyright:
© 2025 IEEE.
PY - 2025
Y1 - 2025
N2 - The increasing occurrence of near-zero market prices in the wholesale electricity markets has raised concerns about the market capture rate and impact on the viability of Photovoltaic (PV) assets. This article aims to conduct a statistical analysis of the occurrence of near-zero day-ahead prices in the Iberian electricity market along 2024 and evaluate the correlation between prices and various technologies in the energy mix. There are 838 hours of the year below 1 €/MWh. During the spring months, day-ahead prices are significantly lower, especially at daylight. Looking at spring months, the findings suggest that wind power tends to decrease them. As can be concluded, there is a strong linear correlation between the thermal gap and market prices. Finally, this article addresses the impact of such prices on the profitability of PV plants. PV is not able to influence prices (negative Pearson coefficient), resulting in a capture rate of 65 %.
AB - The increasing occurrence of near-zero market prices in the wholesale electricity markets has raised concerns about the market capture rate and impact on the viability of Photovoltaic (PV) assets. This article aims to conduct a statistical analysis of the occurrence of near-zero day-ahead prices in the Iberian electricity market along 2024 and evaluate the correlation between prices and various technologies in the energy mix. There are 838 hours of the year below 1 €/MWh. During the spring months, day-ahead prices are significantly lower, especially at daylight. Looking at spring months, the findings suggest that wind power tends to decrease them. As can be concluded, there is a strong linear correlation between the thermal gap and market prices. Finally, this article addresses the impact of such prices on the profitability of PV plants. PV is not able to influence prices (negative Pearson coefficient), resulting in a capture rate of 65 %.
KW - Capture Rate
KW - Energy Storage
KW - Iberian Market
KW - Near-Zero Prices
KW - Photovoltaic Profitability
UR - https://www.scopus.com/pages/publications/105011070353
U2 - 10.1109/EEM64765.2025.11050117
DO - 10.1109/EEM64765.2025.11050117
M3 - Conference contribution
AN - SCOPUS:105011070353
T3 - International Conference on the European Energy Market, EEM
BT - 2025 21st International Conference on the European Energy Market, EEM 2025
PB - IEEE Computer Society
T2 - 21st International Conference on the European Energy Market, EEM 2025
Y2 - 27 May 2025 through 29 May 2025
ER -
