The average price of electricity on the wholesale market rose by a staggering 450% on Wednesday following a power outage in Spain on Monday. It now stands at €31.87 per megawatt-hour (MWh), compared to just €5.79 the day before. Meanwhile, following the blackout that left the entire country and the entire Iberian Peninsula without power on Monday, Renfe has restored 100% of its public services in the Cercanías centers of Madrid, the Basque Country, the Valencian Community, Asturias, Cantabria, and Galicia. The Rodalies service in Catalonia has also been restored.
Currently, the government is maintaining all hypotheses about the possible cause of the power outage, including the possibility of a cyberattack. This is despite the fact that Red Eléctrica, a company in which the state holds a 20% stake, took only a few hours to rule out this theory. Government President Pedro Sánchez commented on the “imprudence” of rejecting the reasons for the outage, including those put forward by Red Eléctrica, led by former socialist minister Beatriz Corredor.
