Energy Central-News Article

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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