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    Electricity prices in Spain this Friday, March 31

    March 31, 2023 - CE Noticias Financieras


      Spain, one of the countries with the most expensive electricity system in the world, has wholesale electricity markets called pool that hold auctions every day to find out what the price per Megawatt per hour (MWh) will be.

      According to data from the Iberian Energy Market Operator (OMIE), the price of electricity has dropped compared to Thursday, March 30, when it cost 31.11 euros/MWh. Today it costs 16.53 euros/MWh.

      The cheapest hour of light will be between 16 and 17 hours, at a price of 0.19 euros per megawatt hour. It is recommended to make the most use of electricity in this time slot.

      On the other hand, be careful with the time from 08 to 09 hours, where it will cost 32 euros.

      Likewise, the maximum electricity price will be from 21 to 22 hours, at a price of 35.61 euros/MWh.

      Price of electricity per hour this March 31st

      • From 00:00 to 01:00: 27.83 euros/MWh
      • From 01:00 to 02:00: 19.90 euros/MWh
      • From 02:00 to 03:00: 16.27 euros/MWh
      • From 03:00 to 04:00: 14.00 euros/MWh
      • From 04:00 to 05:00: 12.00 euros/MWh
      • From 05:00 to 06:00: 15.00 euros/MWh
      • From 06:00 to 07:00: 27.83 euros/MWh
      • From 07:00 to 08:00: 27.83 euros/MWh
      • From 08:00 to 09:00: 32.00 euros/MWh
      • From 09:00 to 10:00: 23.90 euros/MWh
      • From 10:00 to 11:00: 16.27 euros/MWh
      • From 11:00 to 12:00: 5.47 euros/MWh
      • From 12:00 to 13:00: 4.16 euros/MWh
      • From 13:00 to 14:00: 4.16 euros/MWh
      • From 14:00 to 15:00: 1.6 euros/MWh
      • From 15:00 to 16:00: 0.20 euros/MWh
      • From 16:00 to 17:00: 0.19 euros/MWh
      • From 17:00 to 18:00: 1.73 euros/MWh
      • From 18:00 to 19:00: 4.16 euros/MWh
      • From 19:00 to 20:00: 19.50 euros/MWh
      • From 20:00 to 21:00: 32.75 euros/MWh
      • From 21:00 to 22:00: 35.61 euros/MWh
      • From 22:00 to 23:00: 32.50 euros/MWh
      • From 23:00 to 24:00: 31.92 euros/MWh

      The price is established day by day and also depends on the different origins it has: gas-fired thermal power plants, hydroelectric power plants, nuclear power plants or renewable energies. Each energy origin generates a different price per MWh.

      This means that the days when gas or hydroelectric power plants provide energy are the days when the Mwh costs the most.

      Electricity is condensed into a pricing system. Wholesale markets and power generation vary the daily value of this service.

      While this marginalist system provides several advantages such as prioritizing low-emission energies, encouraging investment in renewable technologies and more.

      However, it also has major disadvantages such as sensitivity to demand to raise the price. As well as days where the light has a very high price because of fluctuations in energy systems.

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