He average price of electricity on the wholesale market will collapse this Sunday until 10.71 euros per megawatt hour (MWh), which will mark its lowest level since June 2 due to the drop in demand and the increase in the production contribution of renewable 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).
The drop in the “pool” will have an effect on customers of the regulated market or PVPCimpacted by these fluctuations in daily electricity prices on the market.
The highest price of electricity For the day, it will take place between 7:00 p.m. and 8:00 p.m., when the MWh will rise 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. Thus, on November 15, it reached 124.55 euros, the annual maximum.
However, to all these prices, we must add the fixed costs existing for the electricity consumer for tolls, charges and system adjustments.
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 incorporates a price basket in the medium and long term 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 marketsso that these represent 25% in 2024, 40% in 2025 and 55% from 2026.
