Endesa’s chairman has said that the wind power proposition is already paying off in Spain, bringing down electricity prices and contributing to job creation due to exports of renewable equipment.

According to a study undertaken in 2008 by Endesa’s markets division, the wind power capacity on the Spanish grid contributed to a reduction in electricity market prices of around E6 per MWh.

Endesa has stated that wind power produced savings for the Spanish energy trade balance of some E1.25 billion, in addition to reducing the environmental fallout due to equivalent fossil fuel-fired facilities.

Endesa has cited the example of October 28, 2008, a day of reportedly high availability of wind power on the grid, at an average capacity of 6,933MW, the estimated impact on pool prices was E14 per MWh. Without the wind contribution, the average daily spot price would have been E82 per MWh instead of the matched price of E68 per MWh, according to the Spanish utility.