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Spanish Gas for Power Gen Jumps 71% in Aug vs. 5-Year Average

NATURAL GAS

Spain's energy ministry said the country's gas plants had burnt 71% more of the fuel for power generation in August than they had on average for the past five years.

  • The increase in gas burning was to generate more electricity to export to Portugal and France it said.
  • "Exporting electricity to guarantee power supplies in neighbouring countries is a sign of solidarity, especially in the case of France, which has historically exported electricity but in 2022 is importing energy in bulk," the ministry said in a statement.
  • The Ministry added that Spain is expected to meet Europe’s target to lower its gas use by 15%

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