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    Price of electricity in Spain this Thursday, June 8

    June 8, 2023 - CE Noticias Financieras


      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.

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