The price of electricity soars this Tuesday with an increase of 34.77% compared to Monday and surpassing the barrier of 365 euros per megawatt hour, leaving the price as the highest since the implementation of the Iberian exception.
Specifically, for this Tuesday, August 23, the average price per megawatt hour in the electricity ‘pool’ will be 182.93 euros/MWh. To this should be added 182.40 euros/MWh for compensation to the gas companies, so that the real average price for the regulated rate consumer will be 365.33 euros per megawatt hour, which until now is the highest price newspaper of the light since the Iberian exception for Spain and Portugal entered into force.
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?
According to data from the OMIE and without counting compensation to gas companies, the cheapest hour of electricity will be at dawn, between 03:00 and 04:00, when electricity will be worth 148.60 euros/MWh.
At what time is electricity more expensive?
The most expensive time to turn on the light will be at night, between 9:00 p.m. and 10:00 p.m., when it will cost 250 euros/MWh.
How much does electricity cost every hour?
– From 00 to 01 hours: 192.67 euros/MWh.
– From 01 to 02 hours: 174.74 euros/MWh.
– From 02 to 03 hours: 150 euros/MWh.
– From 03 to 04 hours: 148.60 euros/MWh.
– From 04 to 05 hours: 150 euros/MWh.
– From 05 to 06 hours: 155 euros/MWh.
– From 06 to 07 hours: 180.44 euros/MWh.
– From 07 to 08 hours: 184.84 euros/MWh.
– From 8 a.m. to 9 a.m.: 182.80 euros/MWh.
– From 9 a.m. to 10 a.m.: 157.70 euros/MWh.
– From 10 a.m. to 11 a.m.: 159 euros/MWh.
– From 11 a.m. to 12 p.m.: 162.75 euros/MWh.
– From 12 to 13 hours: 169.84 euros/MWh.
– From 13 to 14 hours: 184.84 euros/MWh.
– From 2:00 p.m. to 3:00 p.m.: 185.04 euros/MWh.
– From 15 to 16 hours: 180.19 euros/MWh.
– From 4:00 p.m. to 5:00 p.m.: 170.07 euros/MWh.
– From 5:00 p.m. to 6:00 p.m.: 170 euros/MWh.
– From 6:00 p.m. to 7:00 p.m.: 182.74 euros/MWh.
– From 7:00 p.m. to 8:00 p.m.: 206.40 euros/MWh.
– From 8:00 p.m. to 9:00 p.m.: 235.51 euros/MWh.
– From 9:00 p.m. to 10:00 p.m.: 250 euros/MWh.
– From 10 p.m. to 11 p.m.: 239.18 euros/MWh.
– From 23 to 24 hours: 217.97 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 impact of the ‘Iberian exception’
In the absence of the ‘Iberian exception’ mechanism to cap the price of gas for electricity generation, the price of electricity in Spain would be on average around 414.34 euros/MWh, which is around 143 euros/MWh more than with the compensation for clients of the regulated rate, who will thus pay 34.5% less on average.
The ‘Iberian mechanism’, which came into force on June 15, limits the price of gas for electricity generation to an average of 48.8 euros per MWh over a period of twelve months, thus covering the coming winter, a period in which which energy prices are more expensive.
Specifically, the ‘Iberian exception’ sets a path for natural gas for electricity generation at a price of 40 euros/MWh in the initial six months, and subsequently, a monthly increase of five euros/MWh until the end of the measure .
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