| Comment | The difference being that Spain produces around 15% of its electricity from gas, and for us it's more than 40%
Gas prices set the price of electricity in the UK, they're tightly coupled, which is not the case across Europe.
And further, because Spain is hot, there is neglible gas use for heating, which means their gas storage facilities are available to mitigate price fluctuations for electricity production. We closed most of our gas storage in 2016. |
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