The average price of electricity on the wholesale market will fall this Sunday until 10.71 euros per megawatt hour (MWh), with which will mark its lowest level since June 2 due to the decline in demand and the increase in the contribution of renewable energy production to the energy mix.
Concretely, between 4:00 a.m. and 5:00 p.m., the price in the pool will be less than 4 euros/MWh, according to provisional data from the Iberian Energy Market Operator (OMIE) collected by European press.
The reduction in the “pool” will have an effect on customers of the regulated market or PVPC, impacted by these daily fluctuations in market prices.
The highest price of the day will be between 7:00 p.m. and 8:00 p.m., when the MWh will amount to 41.54 euros.
Likewise, it should be noted that the average price of electricity in the last weeks of November amounted to 109.67 euros, while In October, it was 70.19 euros.
However, to all these prices must be added the existing fixed costs for the electricity consumer due to tolls, fees and system adjustments.
Likewise, it should be noted that the average price of electricity in September amounted to 72.62 euros, while in October it was close to 71.8 euros.
In this sense, it should be remembered that the “pool” does not exactly represent the final amount of the electricity price for a consumer covered by the regulated tariff, since with the entry into 2024, a new method of calculating the PVPC was adopted, which It integrates a medium and long-term price basket to avoid strong fluctuations, without losing the short-term price references that encourage savings and efficient consumption.
Thus, the proportion of connection with the “pool” price will be gradually reduced, to integrate the references of the futures markets, so that these represent 25% in 2024, 40% in 2025 and 55% from 2026.
