Friday, February 23

The price of electricity rebounds this Saturday by 6% after four days down

The megawatt-hour will cost an average of 190.41 euros during the day

The electricity price in the wholesale market it picks up again after four days in decline. This Saturday it has risen just over 6% to stand at 190.41 euros per megawatt-hour (MWh), according to data from the Iberian Energy Market Operator (OMIE). This is an amount 13% cheaper than that of last Saturday, but five times the amount of the ‘pool’ a year ago, when it marked 41.97 euros.

In this way, the wholesale price of electricity will remain below the barrier of 200 euros per megawatt-hour per third day in a row, a value has been reached in nearly 80% of the days in December and in 13 of the first 22 days in January. It should be remembered that the price of electricity came close to 400 euros per megawatt-hour in the last month of 2021.

For time zones, the maximum price for this Saturday will be registered between 7:00 p.m. and 8:00 p.m., with 245.27 euros per megawatt-hour, while the minimum will be 166.9 euros per megawatt-hour between 3:00 and 4:00 in the morning.

Is price escalation in which Europe has been immersed in the last six months is due, fundamentally, to the rising gas prices in international markets, which is used in combined cycle plants and which set the market price in most hours. In addition, the value of carbon dioxide (CO2) emission rights has also been skyrocketing for months before the EU’s objective of achieving the decarbonization of the economy in 2050.

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So far this month, the price of electricity stands at an average of 192.33 euros per megawatt-hour, 19% cheaper than the value of December, the most expensive month in history with 239.22 euros per megawatt-hour, but 73% higher than the average price of 2021 (111.4 euros per megawatt-hour), the highest since records exist. Wholesale market prices have a direct impact on the regulated rate 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 in the free market.

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