Electricity in the Spanish wholesale market will be paid today at an average of 103.24 euros per megawatt / hour. This is the lowest price so far this year for the second consecutive day and the lowest of the large European economies: today it will be listed at 175.93 euros in Italy, 123.55 in France and 120.23 in Germany and, outside of the EU, the equivalent of about 133 euros in the UK.
The contribution of renewable energies (solar and wind) and the lower demand for Easter (today is a holiday in six of the 17 autonomous communities) have contributed to lowering the price of electricity to levels not seen since December 27, when it was quoted at 96.08. The wholesale price has a direct impact on users subscribed to the regulated rate (PVPC), which account for 40% of consumers, and only indirectly, and when their contractual conditions are revised, on customers assigned to free market rates, which They are 60% of households.
Compared to the eve of the war, which marked a turning point in the rise in energy shortages, electricity has fallen by 47.28% in Spain, and compared to the historical maximum, which was reached on May 8, the reduction is 81%. Even so, the kilowatt / hour is still 64% more expensive than a year ago.
In recent days there have been some hours in which the price of electricity fell to 3.7 euros (yesterday, Sunday) and to 1.03 the previous Sunday, compared to the record of 700 euros that was paid at certain times on the 8th of March.
Prices
103.24 Euros per megawatt / h
The price of electricity in the Spanish wholesale market marks today the second lowest cost of the year for the second consecutive day. Despite this decline, the kilowatt / hour is still 64% more expensive than twelve months ago.
71.19 Euros per megawatt / h
Natural gas is trading at 71.19 euros per megawatt/hour, four times higher than the 2021 low but below the start of the war.
111.23 dollars per barrel
Oil remains more expensive than before the conflict despite its decline since March. In Asturias, fuels have also become cheaper since last month but are still above the day before the invasion.
Gas. Gas, which has an impact on the formation of the price of electricity due to the existing marginal system in the EU, has also lost positions and is at 71.19 euros per megawatt / hour in the Iberian market, 9.58% below on the eve of the invasion of Ukraine by Russia, which shot up its price even more. It is, however, still four times more expensive than the cheapest price paid in 2021.
Fuels. Oil, although it fell 17.56 dollars a barrel of Brent crude (the reference in Europe) compared to March 8, it is still more expensive than before the war in Ukraine. It is trading at $111.23. As a result of this increase in the price of raw materials (14.8% with its last price), so have fuels. 95 octane gasoline has an average price in Asturias of 1,815 euros per litre. It represents a reduction in price of 4.7 cents compared to the maximum reached on March 29. Despite this, it is sold 19.6 cents more expensive than the day before the armed conflict. The consumer pays slightly less than then thanks to the discount of 20 cents approved by the Government and the additional offers of some oil companies, with which the bonus can reach 30 or 40 cents depending on promotions. Diesel, which has been above the price of gasoline since March 23, is trading at an average price of 1,839 euros: 33.2 cents more than on February 23 but 6.2 below the maximum of February 29 March.