Energy Central-News Article

Spain is one of the countries with the most expensive electricity system in the world. That is why the wholesale electricity markets, called pool, 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 is down 6.9% compared to Wednesday, June 7, when it cost 87.16 euros/MWh. Today it costs on average 81.13 euros.

Thus, it was announced that the cheapest hour for electricity will be between 14:00 and 15:00 hours, at a price of 64.06 euros per megawatt hour. It is recommended to make the greatest use of electricity in this time slot.

On the other hand, the maximum price of electricity will be from 21 to 22 hours, at a price of 100.55 euros/Mwh.

Price of electricity per hour this June 8:

From 00:00 to 01:00: 93.93 euros/MWh.
From 01:00 to 02:00: 89.26 euros/MWh
From 02:00 to 03:00: 82.83 euros/MWh
From 03:00 to 04:00: 74.95 euros/MWh
From 04:00 to 05:00: 73.57 euros/MWh
From 05:00 to 06:00: 73.57 euros/MWh
From 06:00 to 07:00: 89.85 euros/MWh
From 07:00 to 08:00: 92.78 euros/MWh
From 08:00 to 09:00: 91.40 euros/MWh
From 09:00 to 10:00: 83.76 euros/MWh
From 10:00 to 11:00: 74.64 euros/MWh
From 11:00 to 12:00: 68.50 euros/MWh
From 12:00 to 13:00: 64.22 euros/MWh
From 13:00 to 14:00: 64.40 euros/MWh
From 14:00 to 15:00: 64.06 euros/MWh
From 15:00 to 16:00: 67.93 euros/MWh
From 16:00 to 17:00: 71.17 euros/MWh
From 17:00 to 18:00: 76.10 euros/MWh
From 18:00 to 19:00: 73.52 euros/MWh
From 19:00 to 20:00: 89.85 euros/MWh
From 20:00 to 21:00: 98.60 euros/MWh
From 21:00 to 22:00: 100.55 euros/MWh
From 22:00 to 23:00: 96.58 euros/MWh
From 23:00 to 24:00: 91.00 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 MWh price.

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.

Enjoy your Subscribers Club discounts as many times as you want thanks to your subscription to Gestión. More than 300 promotions are waiting for you, discover them here. And if you are not yet a subscriber, purchase your plan here.