Spain announces the order creating its capacity market, with contracts of up to 15 years

Spain's third vice-president and ecological transition minister, Sara Aagesen, told Congress that the ministerial order regulating the Spanish capacity market would be published in the BOE the following day, after several years of processing and with European Commission state-aid clearance obtained at the end of May. According to the trade press, the mechanism will pay for available capacity rather than for energy produced, generation, storage, consumers and demand aggregators will all be able to take part, and contracts of up to fifteen years are foreseen for new investment. It is the revenue signal storage projects and flexible demand have been waiting for.