Friday, July 1

The light will mark the second highest price in history on Tuesday

The price of the electricity in the wholesale market (‘poo’l) this Tuesday stood at 327.38 euros per megawatt hour (MWh), the second highest ever, after two days of rise that culminated today in the historical maximum of 339.84 euros / MWh.

According to the final data published by the Iberian Electricity Market Operator (OMIE), tomorrow’s price It is 3.66% lower than the one set for today, the highest ever recorded. In any case, with this decrease, electricity will once again exceed the barrier of 300 euros / MWh for the sixth consecutive day.

After this increase, the value will almost seven times the price set by the pool during the third Monday of December last year (46.79 euros / MWh).

So far this month, the average price of electricity stands at 248.64 euros / MWh, 28% more than the average registered during November (193.43 euros / MWh) and about 24% above October (200.06 euros / MWh), the most expensive month in history.

Time zones

By sections, the maximum price will be reached between 8:00 p.m. and 9:00 p.m. when it will be 370 euros / MWh, and the minimum will be 270 euros / MWh between 3:00 and 5:00 in the morning.

With this new rise and with less than two weeks to go until the end of the year, it is becoming increasingly difficult for the Government to fulfill its promise that by the end of 2021, Spaniards pay the same electricity bill as in 2018.

According to Efe calculations and based on the simulator of the National Markets and Competition Commission (CNMC), the average bill last November was 83.83 euros, almost 40% more expensive than the same month of 2018 (61.09) and that of December of that year (60.23 euros).

Related news

The prices of the wholesale market have a direct impact on the regulated tariff or PVPC, to which almost 11 million consumers in Spain are welcomed, and serves as a reference for the other 17 million who contract their supply in the free market.

The price escalation that affects a large part of Europe is due, among other factors, to the rising cost of gas in international markets, which is used in combined cycle plants and which sets the market price in most hours, and the increase in the value of carbon dioxide (CO2) emission rights.

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