The price of electricity drops 28% tomorrow and is close to levels of May 2021
The average price of electricity will drop this Thursday, 28.7%, to 65.54 euros/megawatt hour (MWh)with respect to the price of this Wednesday, and places the average for the month of January, with five days to go until the endat 68.22 euros/MWh, a figure that has not been seen since May 2021.
This final average price is the result of adding, to the 67.40 euros/MWh registered in the wholesale electricity market, the provisional adjustment that must be pay to plants that use gas to generate electricity due to the application of the cap on gas in the Spanish market, which tomorrow, as has happened on several occasions, is negative, of -0.51 euros/MWh.
Without the so-called ‘Iberian exception’, which limits the price of natural gas for electricity generation, the wholesale price would be tomorrow 83.58 euros/MWh, that is, 16.18 euros higher, according to data collected from the Iberian Electricity Market Operator (OMIE) and the Iberian Gas Market (Mibgas).
The price of electricity this Wednesday
In this calculation, the new gas cap of 45 euros is already applied, which will be in force throughout January. By time slots and excluding the adjustment, electricity will reach its highest price between 7:00 p.m. and 8:00 p.m., with 98.11 euros/MWh, and the lowest between 11:00 p.m. and 12:00 p.m., with 49.44 euros/MWh .
With the drop for tomorrow, the price of electricity breaks a streak of three consecutive rises and its price will be 71.75% below what it was on the same day last year. A high wind energy production, together with a greater hydraulic generation in this month of January, has contributed to lower prices, which reached, for example, at 4.58 euros/MWh on the 17th and at 9.02 euros on the 8th.
With five days to go until the end of the month, The monthly average of the price of electricity, with the gas cap applied, is 68.22 euros/MWh. To find a similar average monthly price, one must go back to May 2021, when it amounted to 67.12 euros/MWh, when an escalation was already beginning that led to the wholesale price of electricity to consecutively pulverize historical records.
The price of electricity in Spain for this Thursday will be well below that of other neighboring countries, such as Francein which it will be 171.32 euros/MWh; Germany, with an average price of 167.67 euros/MWh; in Italy, of 174.27 euros/MWh, and in United Kingdom, where it has been set at 145.99 pounds/MWh (165.42 euros/MWh).
The most expensive and cheapest hours for this Thursday
- From 00:00 to 01:00: 67.84 euros/MWh.
- From 01:00 to 02:00 hours: 58.34 euros/MWh.
- From 02:00 to 03:00: 57.02 euros/MWh.
- From 03:00 to 04:00: 56.1 euros/MWh.
- From 04:00 to 05:00 hours: 52.38 euros/MWh.
- From 05:00 to 06:00: 56.47 euros/MWh.
- From 06:00 to 07:00: 57.52 euros/MWh.
- From 7:00 a.m. to 8:00 a.m.: 68.02 euros/MWh.
- From 08:00 to 09:00: 91.24 euros/MWh.
- From 9:00 a.m. to 10:00 a.m.: 79.68 euros/MWh.
- From 10:00 a.m. to 11:00 a.m.: 64.75 euros/MWh.
- From 11:00 a.m. to 12:00 p.m.: 58.18 euros/MWh.
- From 12:00 a.m. to 1:00 p.m.: 57.62 euros/MWh.
- From 1:00 p.m. to 2:00 p.m.: 55.1 euros/MWh.
- From 2:00 p.m. to 3:00 p.m.: 52.16 euros/MWh.
- From 3:00 p.m. to 4:00 p.m.: 51.99 euros/MWh.
- From 4:00 p.m. to 5:00 p.m.: 58.46 euros/MWh.
- From 5:00 p.m. to 6:00 p.m.: 71.69 euros/MWh.
- From 6:00 p.m. to 7:00 p.m.: 76.2 euros/MWh.
- From 7:00 p.m. to 8:00 p.m.: 98.11 euros/MWh.
- From 8:00 p.m. to 9:00 p.m.: 97.93 euros/MWh.
- From 9:00 p.m. to 10:00 p.m.: 78.08 euros/MWh.
- From 10:00 p.m. to 11:00 p.m.: 58.82 euros/MWh.
- From 11:00 p.m. to 12:00 a.m.: 49.44 euros/MWh.