Sunday, May 28

The price of electricity will rise 5% on Wednesday to 237 euros/MWh

The electricity price in the wholesale market It will increase on Wednesday and will do so by 5.2% to 236.77 euros/megawatt hour (MWh) daily average, after its drop on Monday.

According to data from the Iberian Electricity Market Operator (OMIE), electricity it will be more expensive between 8:00 p.m. and 9:00 p.m., when its average price will be 250 euros/MWh, and cheaper between 4:00 and 5:00, when it will be 225.01 euros/MWh.

With Wednesday’s figure, the average price of electricity will continue to exceed 200 euros/MWh for the fourth consecutive day and it will be almost 10% more expensive than a week ago, when it was 213.16 euros/MWh on average. The price of this Wednesday will be a 23.5% more expensive than a month ago, on December 25, an average of 181.09 euros/MWh was paid. Compared to last year, the value almost four times higher than that registered on the last Wednesday of January of last year, then it cost an average of 59.77 euros/MWh.

Near the end of January, the average monthly price of electricity in the wholesale market is 196.94 euros/MWh, 17.6% lower at 239.17 euros/MWh on average with which December closed, which was the most expensive month in history, in which the maximum price was reached, 383.67 euros/MWh on December 23.

The prices of electricity in 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.

Analysts from the energy consulting group ASE attribute the lower prices that are taking place this January compared to December to the low demand in the first days of the month, many of them holidays, although gas prices have also eased compared to those of the final stretch of 2021, although they are still high.

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The rise in prices that affects much of Europe is due, among other factors, to the rising gas prices in international markets, which is used in combined cycle power plants -the most expensive and which tend to mark the price in most hours, and the increase in the price of carbon dioxide (CO2) emission rights.

At rest of the European markets, average electricity prices will exceed 200 euros/MWh in the main markets, in Italy, the average price will be 272.69 euros/MWh; in France, it will cost an average of 275.45 euros/MWh and in Germany it will be paid at an average of 234.98 euros/MWh. In the United Kingdom, the average price will be 232.43 euros/MWh (194.85 pounds/MWh) and in Portugal, which shares the same operator as Spain, the average price of electricity will also be 236.77 euros/MWh. MWh.