The cap on the price of gas that came into force on June 15 is already noticeable in the daily price of electricity.
Specifically, for this Friday, July 29, the average price per megawatt hour in the ‘electric pool’ will be 141.51 euros/MWh. To this, it would be necessary to add 134.88 euros/MWh for compensation to the gas companies (provisional data), so that the real average price for the consumer of the regulated tariff will be 276.39 euros per megawatt hour.
This cost, 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 invoice 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 the compensation to the gas companies, the cheapest hour of electricity will be during the evening. Specifically, between 6:00 p.m. and 7:00 p.m., when electricity will be worth 119 euros/MWh.
At what time is electricity more expensive?
The most expensive time to turn on the light will be in the first hour of the day, between 00:00 and 01:00, when it will cost 161 euros/MWh.
How much does electricity cost each hour?
– From 00 to 01 hours: 161 euros/MWh.
– From 01 to 02 hours: 150.29 euros/MWh.
– From 02 to 03 hours: 142.81 euros/MWh.
– From 03 to 04 hours: 138.51 euros/MWh.
– From 04 to 05 hours: 139.01 euros/MWh.
– From 05 to 06 hours: 142.91 euros/MWh.
– From 06 to 07 hours: 145.54 euros/MWh.
– From 07 to 08 hours: 150.29 euros/MWh.
– From 08 to 09 hours: 150.29 euros/MWh.
– From 9 a.m. to 10 a.m.: 139.01 euros/MWh.
– From 10 a.m. to 11 a.m.: 135.34 euros/MWh.
– From 11 a.m. to 12 p.m.: 135.34 euros/MWh.
– From 12 to 1:00 p.m.: 145.85 euros/MWh.
– From 1:00 p.m. to 2:00 p.m.: 148.02 euros/MWh.
– From 2 to 3 p.m.: 141.01 euros/MWh.
– From 3 to 4 p.m.: 135.95 euros/MWh.
– From 4 to 5 p.m.: 132.91 euros/MWh.
– From 5 to 6 p.m.: 120.51 euros/MWh.
– From 6 to 7 p.m.: 119 euros/MWh.
– From 7:00 p.m. to 8:00 p.m.: 133.01 euros/MWh.
– From 8:00 p.m. to 9:00 p.m.: 153.33 euros/MWh.
– From 9:00 p.m. to 10:00 p.m.: 156.93 euros/MWh.
– From 10 to 11 p.m.: 150.29 euros/MWh.
– From 11 pm to 12 midnight: 129 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 undergoing 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’
The Iberian mechanism, which entered into force on June 15, limits the price of gas for electricity generation to an average of 48.8 euros per MWh for a period of twelve months, thus covering the coming winter, a period in 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 5 euros/MWh until the end of the measure. .
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