Copy of an electricity bill.
The price of electricity falls slightly today and remains at 161.84 euros / MWh. on average in the wholesale market. Check the price of electricity hour by hour
The price of electricity falls again today, although very slightly. This May 29, the cost of electricity experiences a slight decrease as practically every Sunday, but this time only 0.25%, so it will hardly be noticeable in the electricity bill at the end of the month. In other words, using the appliances that consume the most, such as the oven, the washing machine or the dishwasher, will at least be somewhat cheaper during this day after the price of electricity in the wholesale market (‘pool’) has reached the 161.84 euros per MWh. on average
With this drop in the price of electricity, at least the cost of electricity remains below the barrier of 200 euros per MWh for one more day, a figure that, although it continues to be very high, has nothing to do with the last March, when it reached 544 euros per megawatt / hour. In fact, today electricity registers the second lowest price of the month (only above the 127.23 euros/MWh of last May 15). All in all, the imminent cap on the price of gas will cause the price of electricity to suffer a significant reduction for those who are covered by the PVPC rate.
Price of electricity hour by hour (in MWh.)
The price of electricity on the wholesale market directly influences the final cost that the consumer has to pay to start up their appliances. Hence, for all those users covered by the Voluntary Price for Small Consumers (PVPC), the average cost set by OMIE today is 161.84 euros/MWh, before adding the corresponding tolls and charges to the pool.
Thus, according to these tables, the most expensive time of day will be between 10 p.m. and 11 p.m., with 228.03 euros per MWh. The most crude will instead be between 4 and 5 p.m., with the MWh at 120 euros.
Electricity price Sunday May 29
cheapest time
16-17 hours: 120 euros / MWh.most expensive hour
22-23 hours: 228.03 euros / MWh.
Compared to a year ago, the average price of electricity for today, Sunday, will therefore be no less than 97.92% more expensive than the 81.67 euros/MWh that consumers paid on the same day last year.
The electricity ‘pool’, at 161.84 euros per MWh
This Sunday, therefore, the average price of the electricity pool – the wholesale market in which energy is bought and sold on a daily basis – will be a few cents lower than those registered on Saturday, as announced by the Iberian Market Operator of Energy (OMIE). The prices of the ‘pool’ have a direct impact on the regulated rate -the so-called PVPC-, to which almost 11 million consumers in the country are covered, and serve as a reference for the other 17 million who have contracted their supply in the free market . Compared to a year ago, the average price of electricity for this Saturday is 82.41% more expensive than the 88.95 euros/MWh of May 28, 2021.
Evolution of the price of electricity (in euros / MWh.)
Price May 29, Sunday:
161,84 euros / MWh.Price May 28, Saturday:
162,35 euros / MWh.Price May 27, Friday:
168,54 euros / MWh.Price May 26, Thursday:
173,29 euros / MWh.Price May 25, Wednesday:
184,57 euros / MWh.Price May 24, Tuesday:
180,01 euros / MWh.
For this reason, one more day the price of electricity will vary significantly hour by hour throughout the day, depending on the tolls and charges established in each of the time slots of the electricity rate. In fact, the National Commission of Markets and Competition (CNMC) has verified that in 2021, in the framework of the upward spiral of energy, around 1.25 million people switched from the PVPC to a rate in the free market at a fixed price.