Tuesday, March 21

Electricity price: At what time is it cheaper today, Saturday?

The electricity price in the wholesale market (pool) this Thursday, January 20or, for the third consecutive day, specifically slightly less than 11%, to stand at 190.64 euros per megawatt hour (MWh), below the barrier of 200 euros/MWh for the first time since last January 9.

After this new decrease, the price of electricity will be 11% cheaper than last Thursday, although it almost quadruples the amount that the pool marked just one year ago (51.66 euros).

The wholesale price of electricity will remain below the barrier of 200 euros/MWh for the first time since last January 9, when electricity marked a price of 119.24 euros/MWh

This value was reached in nearly 80% of the days in December and in 13 of the first 20 days in January.

By time slots, the maximum price for this Thursday will be recorded between 19:00 and 20:00, with 239.38 euros/MWh, while the minimum will be 160.69 euros/MWh between 15:00 and 16:00.

So far this month, the price of electricity stands at an average of 193.08 euros/MWh, 19% cheaper than the value of December, the most expensive month in history with 239.22 euros/MWh, but 73% higher than the average price of 2021 (111.4 euros/MWh), the highest since records exist.

Why these prices?

The prices of the wholesale market have a direct impact on the regulated tariff or PVPC, to which almost 11 million consumers in Spain are covered, and serves as a reference for the other 17 million who contract their supply on the free market.

Related news

To cushion the impact that the rise in electricity prices is having on consumers, the Government has extended the tax reduction on taxes levied on electricity bills during the first four months of the year.

The escalation of prices that affects a large part of Europe is due, among other factors, to the higher cost of gas in international markets, which is used in combined cycle plants and which set the market price in most hours, and the increase in the value of carbon dioxide (CO2) emission rights.