EDP CEO Miguel Stilwell d’Andrade stressed that such investments have been “absolutely critical” for years and could have mitigated the impact of the blackout.
He also highlighted the need for more storage solutions and ancillary services to support a system increasingly dominated by renewables.
Following the blackout, flows between Spain and Portugal were cut, leading to abnormal market behaviour and a decoupling of prices between the two countries.
Without sufficient battery capacity, Iberia will likely continue to see wide price spreads between peak and off-peak hours, a structural issue in the region’s evolving power market.
