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), electricity has dropped 54.85% compared to Wednesday, March 29, when it cost 68.91 euros/MWh. Today it costs 31.11 euros/MWh.

The cheapest hour of light will be between 15 and 18 hours, at a price of 0.10 euros per megawatt hour. It is recommended to make the most use of electricity in this time slot.

Also, you can take advantage of the other economic hour from 14 to 15 hours, where it will cost 4 euros.

On the other hand, the maximum price of electricity will be from 08 to 09 hours, at a price of 91 euros/MWh.

Price of electricity per hour this March 30

From 00:00 to 01:00: 35.00 euros/MWh
From 01:00 to 02:00: 33.01 euros/MWh
From 02:00 to 03:00: 33.00 euros/MWh
From 03:00 to 04:00: 33.90 euros/MWh
From 04:00 to 05:00: 33.90 euros/MWh
From 05:00 to 06:00: 34.50 euros/MWh
From 06:00 to 07:00: 45.00 euros/MWh
From 07:00 to 08:00: 75.00 euros/MWh
From 08:00 to 09:00: 91.00 euros/MWh
From 09:00 to 10:00: 55.00 euros/MWh
From 10:00 to 11:00: 33.01 euros/MWh
From 11:00 to 12:00: 29.59 euros/MWh
From 12:00 to 13:00: 12.93 euros/MWh
From 13:00 to 14:00: 4.16 euros/MWh
From 14:00 to 15:00: 4.00 euros/MWh
From 15:00 to 16:00: 0.10 euros/MWh
From 16:00 to 17:00: 0.10 euros/MWh
From 17:00 to 18:00: 0.10 euros/MWh
From 18:00 to 19:00: 4.16 euros/MWh
From 19:00 to 20:00: 32.00 euros/MWh
From 20:00 to 21:00: 46.00 euros/MWh
From 21:00 to 22:00: 46.00 euros/MWh
From 22:00 to 23:00: 33.90 euros/MWh
From 23:00 to 24:00: 31.27 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 source generates a different price per MWh.

Electricity is condensed in 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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