these will be the cheapest hours
The price of light will give another breather this Wednesday to all those customers of the regulated rate, and will fall 7.3% compared to Tuesday’s priceup to 103.98 euros, according to provisional data published by the Iberian Energy Market Operator (OMIE).
The wholesale market auction (‘pool’) results in an average electricity bill price of 103.98 euros/MWh. Compensation to gas companies due to the application of the Iberian exception is added to this price, which it is negative again due to exports to France or Portugaland which will have a mean value of -0.73 euros/MWh. This affects consumers who are beneficiaries of the gas cap: those who have a regulated rate, have a rate indexed to the free market or have to renew their contract.
The most expensive and cheapest hours
By time slots, the highest price will be reached between 09:00 and 10:00, when it will reach 124.87 euros per MWh; while the cheapest will be registered between 02:00 and 03:00, at a rate of 85.54 euros per MWh.
- From 12:00 a.m. to 1:00 a.m.: 91.69 euros/MWh.
- From 01:00 a.m. to 02:00 a.m.: €88.67/MWh.
- From 02:00 to 03:00: 85.54 euros/MWh.
- From 03:00 to 04:00: 86.41 euros/MWh.
- From 04:00 to 05:00: 86.57 euros/MWh.
- From 05:00 to 06:00: 85.64 euros/MWh.
- From 06:00 to 07:00: 87.76 euros/MWh.
- From 7:00 a.m. to 8:00 a.m.: 114.43 euros/MWh.
- From 08:00 to 09:00: 121.88 euros/MWh.
- From 9:00 a.m. to 10:00 a.m.: 124.87 euros/MWh.
- From 10:00 a.m. to 11:00 a.m.: 109.64 euros/MWh.
- From 11:00 a.m. to 12:00 p.m.: 109.83 euros/MWh.
- From 12:00 p.m. to 1:00 p.m.: 99.05 euros/MWh.
- From 1:00 p.m. to 2:00 p.m.: 94.27 euros/MWh.
- From 2:00 p.m. to 3:00 p.m.: 94.58 euros/MWh.
- From 3:00 p.m. to 4:00 p.m.: 98.99 euros/MWh.
- From 4:00 p.m. to 5:00 p.m.: 107.82 euros/MWh.
- From 5:00 p.m. to 6:00 p.m.: 107.19 euros/MWh.
- From 6:00 p.m. to 7:00 p.m.: 117.70 euros/MWh.
- From 7:00 p.m. to 8:00 p.m.: 119.85 euros/MWh.
- From 8:00 p.m. to 9:00 p.m.: 122.01 euros/MWh.
- From 9:00 p.m. to 10:00 p.m.: 123.37 euros/MWh.
- From 10:00 p.m. to 11:00 p.m.: 112.32 euros/MWh.
- From 11:00 p.m. to 12:00 a.m.: 87.82 euros/MWh.
The ‘Iberian mechanism’, which came into force on June 15, limits the price of gas for electricity generation to a average of 48.8 euros per MWh for a period of twelve months, thus covering the coming winter, the period in which energy prices are most expensive. Specifically, the ‘Iberian exception’ sets a path for natural gas to generate electricity from a price of 40 euros per MWh in the initial six months -until December 15-, and subsequently, a monthly increase of five euros per MWh until the end of the measure.
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