The price of electricity plummets this Sunday and marks its lowest level since June, 10.71 euros/MWh

MADRID 23 Nov. () –

The average price of electricity in the wholesale market will plummet this Sunday to 10.71 euros per megawatt hour (MWh), marking its lowest level since June 2 due to lower demand and the increase in the contribution of renewable generation to the energy mix.

Specifically, between 04:00 and 17:00 the price in the pool will be below 4 euros/MWh, according to provisional data from the Iberian Energy Market Operator (OMIE) collected by Europa Press.

The decrease in the ‘pool’ will have an effect on clients of the regulated market or PVPC, impacted by these daily price fluctuations in the market.

The highest price for the day will be between 7:00 p.m. and 8:00 p.m., in which the MWh will rise to 41.54 euros.

Likewise, it is worth noting that the average price of electricity during the last weeks of November stood at 109.67 euros, while in October it was 70.19 euros.

However, to all these prices we must add the existing fixed costs for the electricity consumer due to tolls, charges and system adjustments.

Likewise, it is worth noting that the average price of electricity in September stood at 72.62 euros, while so far in October it is close to 71.8 euros.

In this sense, it is worth remembering that the ‘pool’ does not exactly represent the final amount in the price of electricity for a consumer covered by the regulated tariff, since with the entry in 2024 a new method of calculating the PVPC was adopted, which It incorporates a basket of medium and long-term prices to avoid strong fluctuations, without losing the short-term price references that encourage savings and efficient consumption.

In this way, the proportion of linkage with the pool price will be progressively reduced, to incorporate the references of the futures markets, so that these represent 25% in 2024, 40% in 2025 and 55% starting in 2026.