The price of electricity has surprised this Wednesday by marking the minimum this year, below 90 euros/MWh, 24% less than this Tuesday. In fact, it is the cheapest price on the wholesale market since last October 31.
This lower price in the last week, where the lowest values have been recorded so far in 2022, coincides with a relief in the price of natural gas and a greater contribution of renewable energies in generation. Specifically, the price of natural gas in the Mibgas is listed this Tuesday at 64.66 euros/MWh, well below the 200 that it exceeded in March.
According to data from OMIE, the regulator in Spain and Portugal, for this Wednesday, April 20, the price of electricity will be 85.19 euros/MWh, 8.4% more than a year ago, when the price it was 78.58 euros/MWh.
This price, however, will only be applied to households that have contracted a regulated rate (PVPC), almost 11 million in Spain. As long as they have their bill in the , they will only notice the increase when their contract is updated annually.
At what time is electricity cheaper?
The cheapest hour of electricity will be in the afternoon. Specifically, between 4:00 p.m. and 5:00 p.m., when electricity will barely be worth 6 euros/MWh.
At what time is electricity more expensive?
The most expensive time to turn on the light will be first thing in the morning, between 08:00 and 09:00, when it will cost 148 euros/MWh.
How much does electricity cost every hour?
– From 00 to 01 hours: 125.01 euros/MWh
– From 01 to 02 hours: 100 euros/MWh
– From 02 to 03 hours: 80.11 euros/MWh
– From 03 to 04 hours: 70.02 euros/MWh
– From 04 to 05 hours: 76.24 euros/MWh
– From 05 to 06 hours: 86.04 euros/MWh
– From 06 to 07 hours: 95.54 euros/MWh
– From 07 to 08 hours: 145 euros/MWh
– From 08 to 09 hours: 148 euros/MWh
– From 9 a.m. to 10 a.m.: 145.58 euros/MWh
– From 10 to 11 hours: 125.01 euros/MWh
– From 11 to 12 hours: 86.04 euros/MWh
– From 12 to 13 hours: 69.39 euros/MWh
– From 13 to 14 hours: 60.24 euros/MWh
– From 2:00 p.m. to 3:00 p.m.: 38.08 euros/MWh
– From 15 to 16 hours: 8.99 euros/MWh
– From 4:00 p.m. to 5:00 p.m.: 6 euros/MWh
– From 5:00 p.m. to 6:00 p.m.: 7 euros/MWh
– From 6:00 p.m. to 7:00 p.m.: 33.06 euros/MWh
– From 7:00 p.m. to 8:00 p.m.: 66.94 euros/MWh
– From 8:00 p.m. to 9:00 p.m.: 105.6 euros/MWh
– From 9:00 p.m. to 10:00 p.m.: 147.02 euros/MWh
– From 10 p.m. to 11 p.m.: 126.61 euros/MWh
– From 23 to 24 hours: 93.02 euros/MWh
Why does the price of electricity vary so much?
The main cause of the price fluctuations is that the price of gas is experiencing strong increases and its use is essential for the production of energy in the so-called combined cycle plants. Thus, any impact on the price of gas has an almost immediate impact on the price of electricity.
The current context does not help, precisely, to contain the price of gas. Russia is one of the largest suppliers of gas on the planet and the influence of the war in Ukraine has been felt in half the world, including Spain.
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