Intraday spreads against day-ahead range from +50 €/MWh to -100 €/MWh, with increased volatility closer to delivery

Trade price minus day-ahead spot (€/MWh), Spain, 24–30 November 2025

Source: OMIE, ESIOS, Modo Energy

Notes: Orange = intraday premium. Blue = intraday discount. Bubble size represents trade volume.

MODOENERGY