Spain and Portugal hoped to cut energy bills by capping the the price of #naturalgas in day-ahead power auctions. The policy has been condemned as a failure, but the story is more nuanced than that. A mini-🧵 A deeper look at Iberian energy flows and prices suggests the cap is alleviating the worst effects of a demand spike & solar/wind output flop. It obvs doesn't help that gas is unbelievably expensive in EU right now. This pushes up the adjustment cost payment to CCGTs

I enjoyed researching & recording this episode of the @EnergyFluxNews interactive podcast, all about the world’s #coal addiction — and what it means for the #EnergyTransition

Check it out: callin.com/link/AVFQCknxwJ Some highlights:

“Record coal consumption shows how desperate the world is for energy.”

callin.com/link/ZMQwofpMaD