For this Wednesday, September 13, the average price of electricity for customers linked to the wholesale market will be 108.57 euros/MWh. This figure is 7% lower than on Tuesday, when the final average price was 116.66 euros.
At what time is electricity cheapest?
According to OMIE data and excluding compensation to gas companies, the cheapest time for electricity will be in the afternoon. Specifically, between 15.00 and 16.00 hours, when electricity will cost 90.55 euros/MWh.
At what time is electricity most expensive?
The most expensive time to turn on the electricity will be in two peaks, one between 8.00 and 9.00 a.m. and the second between 8.00 and 9.00 p.m., when it will cost 137.5 euros/MWh.
How much does electricity cost each hour?
- From 00:00 to 01:00 hours: 114.18 euros/MWh.
- From 01 to 02 hours: 100 euros/MWh.
- From 02 to 03 hours: 97.89 euros/MWh.
- From 03 to 04 hours: 93.84 euros/MWh.
- From 04 to 05 hours: 93 euros/MWh.
- From 05 to 06 hours: 93.21 euros/MWh.
- From 06 to 07 hours: 107.18 euros/MWh.
- From 07 to 08 hours: 123.27 euros/MWh.
- From 08 to 09 hours: 137.5 euros/MWh.
- From 09 to 10 hours: 124.91 euros/MWh.
- From 10 to 11 hours: 103.21 euros/MWh.
- From 11 to 12 hours: 96.86 euros/MWh.
- From 12 to 13 hours: 94.97 euros/MWh.
- From 13 to 14 hours: 93 euros/MWh.
- From 14 to 15 hours: 91.76 euros/MWh.
- From 15 to 16 hours: 90.55 euros/MWh.
- From 16 to 17 hours: 91.93 euros/MWh.
- From 17 to 18 hours: 100.27 euros/MWh.
- From 18 to 19 hours: 116.87 euros/MWh.
- From 19 to 20 hours: 130.01 euros/MWh.
- From 8:00 p.m. to 9:00 p.m.: 137.5 euros/MWh.
- From 9 p.m. to 10 p.m.: 133.48 euros/MWh.
- From 10pm to 11pm: 126.13 euros/MWh.
- From 11pm to midnight: 114.18 euros/MWh.
Why does the price of electricity vary so much?
The main cause of the price fluctuations is that the price of gas is rising sharply and its use is essential for the production of energy in the so-called combined cycle power plants. Thus, any impact on the price of gas has an almost immediate impact on the price of electricity.
The impact of the 'Iberian exception
The Iberian derogation has been extended until December 31, following the agreement reached by Spain and Portugal with the European Commission. Thus, it is extended for seven months, until the end of this year, and it is not excluded that it could be extended for longer if this framework is also extended.
Specifically, the agreement not only represents an extension of the Iberian derogation that already applied, but also implies some adjustments to accommodate it, such as the price reference, which until now was increased by five euros per month, and will now be softer. In the original agreement, the aforementioned reference price for gas had an average value of E48.8/MWh: it was E40/MWh for six months, rising by E5/MWh each month thereafter. Now, it will increase by 1.1 euros/MWh from April, to end at 65 euros/MWh.
Currently, the mechanism has had no effect on the marginal matching processes in the wholesale markets since the end of February, due to the drop in the price of natural gas below the thresholds set for its application, but, if necessary, the extension will make it possible to maintain a reasonable price, not so dependent on the evolution of natural gas.