The price of electricity does not give up in Spain. In the absence of the cap that the government has set on the price of gas coming into force, energy continues to skyrocket. The main reason is that the price of gas continues to skyrocket due to the invasion of Ukraine, and this raw material is key to the production of electricity in combined cycle plants.
Specifically, and according to data from OMIE, the regulator in Spain and Portugal, for this Sunday, May 22, the average price of electricity will be 170.56 euros/MWh, a fairly significant amount when compared to the last year’s price, which was 69.97 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 free electricity market, 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 2:00 p.m. and 3:00 p.m., when electricity will be worth 101.40 euros/MWh.
At what time is electricity more expensive?
The most expensive time to turn on the light will be at dinner time, between 9:00 p.m. and 10:00 p.m., when it will cost 227.90 euros/MWh.
How much does electricity cost every hour?
– From 00 to 01 hours: 214.57 euros/MWh
– From 01 to 02 hours: 179.4 euros/MWh
– From 02 to 03 hours: 172.5 euros/MWh
– From 03 to 04 hours: 172.24 euros/MWh
– From 04 to 05 hours: 172.21 euros/MWh
– From 05 to 06 hours: 174.65 euros/MWh
– From 06 to 07 hours: 180.18 euros/MWh
– From 07 to 08 hours: 180.18 euros/MWh
– From 8 a.m. to 9 a.m.: 180.01 euros/MWh
– From 9 a.m. to 10 a.m.: 169.47 euros/MWh
– From 10 a.m. to 11 a.m.: 165.49 euros/MWh
– From 11 a.m. to 12 p.m.: 160 euros/MWh
– From 12 to 13 hours: 149.01 euros/MWh
– From 13 to 14 hours: 141.98 euros/MWh
– From 2:00 p.m. to 3:00 p.m.: 101.4 euros/MWh
– From 15 to 16 hours: 103.7 euros/MWh
– From 4:00 p.m. to 5:00 p.m.: 133.19 euros/MWh
– From 5:00 p.m. to 6:00 p.m.: 141.98 euros/MWh
– From 6:00 p.m. to 7:00 p.m.: 149.9 euros/MWh
– From 7:00 p.m. to 8:00 p.m.: 166.54 euros/MWh
– From 8:00 p.m. to 9:00 p.m.: 220.43 euros/MWh
– From 9:00 p.m. to 10:00 p.m.: 227.9 euros/MWh
– From 10 p.m. to 11 p.m.: 220.43 euros/MWh
– From 23 to 24 hours: 216.11 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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