the most expensive and cheapest hours
The price of electricity will rise tomorrow, Sunday, for regulated rate customers by 24.91% compared to Saturday, to 134.67 euros per megawatt hour (MWh), according to the auction held in the wholesale market or ‘pool’ and the adjustment to be paid by the beneficiaries of the gas cap to compensate the plants that use this raw material. Without the Iberian mechanism, which limits the price of natural gas for electricity generation, the wholesale price would be 148.05 euros per MWh, that is, 13.38 euros more, according to data from the Iberian Market Operator Electricity (OMIE) and the Iberian Gas Market (Mibgas).
The final price is the result of adding to the 131.69 euros per MWh registered for tomorrow in the wholesale market the provisional adjustment that the beneficiaries of the gas cap to compensate to the plants that use this material to generate electricity and that this Sunday will be 2.98 euros. Also, the final price for tomorrow It will be more than 25% lower than a year ago, when it exceeded 180 euros.
In addition, it will be below what is paid in other European countries such as Germany, where 145 euros per MWh will be reached; or France, which will mark 148 euros per MWh; although above UK price, where it will stand at 106 pounds per MWh (about 121 euros). In Portugal, where the cap is also applied to gas destined for electricity generation under the so-called ‘Iberian exception’the price will be the same as in Spain, a country with which it shares a market.
The most expensive and cheapest hours
For time slots, excluding such adjustment, the highest price will be reached between the 7:00 p.m. and 8:00 p.m., when it will reach 175.29 euros per MWh; while the cheapest will register between 15:00 and 16:00, at the rate of 101.49 euros per MWh.
- From 00:00 to 01:00: 145.18 euros/MWh.
- From 01:00 a.m. to 02:00 a.m.: 137.61 euros/MWh.
- From 02:00 a.m. to 03:00 a.m.: 132.75 euros/MWh.
- From 03:00 a.m. to 04:00 a.m.: 130.64 euros/MWh.
- From 4:00 a.m. to 5:00 a.m.: 137.83 euros/MWh.
- From 5:00 a.m. to 6:00 a.m.: 139.13 euros/MWh.
- From 6:00 a.m. to 7:00 a.m.: 139.3 euros/MWh.
- From 07:00 a.m. to 08:00 a.m.: 147.2 euros/MWh.
- From 08:00 a.m. to 09:00 a.m.: 140.33 euros/MWh.
- From 09:00 a.m. to 10:00 a.m.: 130.05 euros/MWh.
- From 10:00 a.m. to 11:00 a.m.: 113.27 euros/MWh.
- From 11:00 a.m. to 12:00 p.m.: 106.66 euros/MWh.
- From 12:00 a.m. to 1:00 p.m.: 105.61 euros/MWh.
- From 1:00 p.m. to 2:00 p.m.: 107.05 euros/MWh.
- From 2:00 p.m. to 3:00 p.m.: 104.46 euros/MWh.
- From 3:00 p.m. to 4:00 p.m.: 101.49 euros/MWh.
- From 4:00 p.m. to 5:00 p.m.: 112.72 euros/MWh.
- From 5:00 p.m. to 6:00 p.m.: 137.79 euros/MWh.
- From 6:00 p.m. to 7:00 p.m.: 164.56 euros/MWh.
- From 7:00 p.m. to 8:00 p.m.: 175.29 euros/MWh.
- From 8:00 p.m. to 9:00 p.m.: 163.14 euros/MWh.
- From 9:00 p.m. to 10:00 p.m.: 155.77 euros/MWh.
- From 10:00 p.m. to 11:00 p.m.: 161.13 euros/MWh.
- From 11:00 p.m. to 12:00 a.m.: 142.96 euros/MWh.
The ‘Iberian mechanism’, which came into force on June 15, limits the price of gas for electricity generation at an average of 48.8 euros per MWh for a period of twelve months, thus covering the next winter, a period in which energy prices are more 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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