most expensive and cheapest hours

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The storm Gérard that hits the Peninsula knocks down the price of electricity for this Tuesday, January 17, 2023. Its hurricane winds cause the lowest daily price to be recorded since the beginning of the year, with a reduction compared to the cost of today, Monday of up to 61.74%. The greater electricity generation caused by the full availability of wind energy knocks down the price by not having to use fossil fuels. Thus, the average price of electricity for rate-regulated customers linked to wholesale market they will see a relief in their bill compared to today’s cost, which reaches 11.71 euros/MWh.

The most expensive hours of the price of electricity

In the auction, the average price of electricity in the wholesale market -the so-called ‘pool’- will stand on Tuesday at 4.48 euros/MWh. Between 03:00 and 06:00, the light will have no cost since the result of its calculation is negative. While the maximum price will be recorded between 8:00 p.m. and 9:00 p.m.when it will be 17.67 euros.

To this pool price Compensation to gas companies is added, which must be paid by consumers who are beneficiaries of the measure, consumers of the regulated tariff (PVPC) or those who, despite being in the free market, have an indexed tariff, which for This Tuesday it stands at -0.62 euros/MWh.

The average price of light for regulated tariff customers linked to the wholesale market between January 1 and 17, 2023, it stands at 71.32 euros/MWh, while in the same period of 2022 it was 190.4 euros/MWh, that is, almost three times more expensive.

In the absence of the mechanism of ‘Iberian exception’ To cap the price of gas for electricity generation, the price of electricity in Spain would be on average around 32.03 euros/MWh, which is 27.55 euros/MWh more than with the compensation for the customers of the regulated tariff, which will thus pay 86.01% less on average.

The ‘Iberian mechanism’which entered into force on June 15, limits the price of gas for electricity generation to an average of 48.8 euros per MWh for a period of twelve months, thus covering next winter, a period in which the prices of energy are more expensive.

Specifically, the ‘Iberian exception’ fixed a path for natural gas for electricity generation from a price of 40 euros/MWh in the initial six months, and subsequently, a monthly increase of 5 euros/MWh until the end of the measure.

The Spanish Executive has already asked Brussels prolong the ‘Iberian exception’ at least until the end of 2024 with a cap similar to the current one, of between 45 and 50 euros per megawatt hour (MWh).

The price of electricity this Tuesday, by the hour

  • From 00:00 to 01:00: 2.35 euros/MWh.
  • From 01:00 to 02:00: 2.09 euros/MWh.​
  • ​From 02:00 to 03:00: 0.51 euros/MWh.
  • ​From 03:00 to 04:00: -1.06 euros/MWh.
  • ​From 04:00 to 05:00: -1.75 euros/MWh.
  • ​From 05:00 to 06:00: -0.96 euros/MWh.
  • ​From 06:00 to 07:00: 4.12 euros/MWh.
  • ​From 7:00 a.m. to 8:00 a.m.: 4.13 euros/MWh.
  • ​From 8:00 a.m. to 9:00 a.m.: 4.67 euros/MWh.
  • ​From 9:00 a.m. to 10:00 a.m.: 4.83 euros/MWh.
  • ​From 10:00 a.m. to 11:00 a.m.: 4.14 euros/MWh.
  • ​From 11:00 a.m. to 12:00 p.m.: 3.95 euros/MWh.
  • ​From 12:00 a.m. to 1:00 p.m.: 3.97 euros/MWh.
  • ​From 1:00 p.m. to 2:00 p.m.: 3.99 euros/MWh.
  • ​From 2:00 p.m. to 3:00 p.m.: 4.09 euros/MWh.
  • From 3:00 p.m. to 4:00 p.m.: 3.65 euros/MWh.
  • ​From 4:00 p.m. to 5:00 p.m.: 3.69 euros/MWh.
  • ​From 5:00 p.m. to 6:00 p.m.: 3.71 euros/MWh.
  • ​From 6:00 p.m. to 7:00 p.m.: 5.27 euros/MWh.
  • ​From 7:00 p.m. to 8:00 p.m.: 12.69 euros/MWh.
  • ​From 8:00 p.m. to 9:00 p.m.: 17.67 euros/MWh.
  • ​From 9:00 p.m. to 10:00 p.m.: 12.4 euros/MWh.
  • ​From 10:00 p.m. to 11:00 p.m.: 5.1 euros/MWh.
  • ​From 11:00 p.m. to 12:00 a.m.: 4.29 euros/MWh.
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