The price of electricity continues this Saturday above 300 euros per MWh.
The price of this electricity rises slightly to 303.73 euros/MWh. Check the price of electricity hour by hour for this August 13
The price of electricity does not give respite this August or on weekends, which in previous months meant a decrease. Thus, this Saturday the average to be paid by regulated rate customers linked to the wholesale market experienced a rise of 0.8% compared to the previous day, standing at 303.73 euros / MWh, according to provisional data from the Operator of the Iberian Energy Market (OMIE).
With these data, consumers remain attentive to know what are the cheapest hours to connect their most consumed appliances such as ovens, washing machines and dishwashers, as well as fans and air conditioners. With this new increase on August 13, 2022, the cost of electricity remains at very high levels for families.
This price is the result of adding the average of the auction in the wholesale market to the compensation that the demand will pay to the combined cycle plants for the application of the ‘Iberian exception’ that serves to establish a ceiling on the price of the gas used for the generation of electricity.
Electricity rates this Saturday, August 13
Cheapest time:
16-18 hours, with 118.25 euros/MWhMost expensive time:
22-23 hours, with 180.6 euros/MWh
In the auction, the average price of electricity in the wholesale market (known as ‘pool’) has been established for this Saturday at 152.32 euros/MWh. The maximum price will be recorded between 10 p.m. and 11 p.m., with 180.6 euros/MWh, while the cheapest time of the day to start up appliances is between 4 p.m. and 5 p.m., with a cost of €118.25/MWh. The following hour will have the same electricity price.
To this price of the ‘pool’ is added the compensation of 151.41 euros/MWh to the gas companies that has to be paid by the consumers who benefit from the measure, the consumers of the regulated rate (PVPC) or those who, despite being in the free market, they have an indexed rate.
Hourly price for this Saturday, August 13:
– From 0 to 1: 174.85 euros / MWh
– From 1 to 2: 168.44 euros / MWh
– From 2 to 3: 164.48 euros / MWh
– From 3 to 4: 159.53 euros / MWh
– From 4th to 5th: 159.53 euros / MWh
– From 5th to 6th: 158.26 euros / MWh
– From 6 to 7: 159.53 euros / MWh
– From 7 to 8: 158.04 euros / MWh
– From 8 to 9: 158.26 euros / MWh
– From 9 to 10: 162.50 euros / MWh
– From 10 to 11: 159.99 euros / MWh
– From 11 to 12: 128.24 euros / MWh
– From 12 to 13: 147.72 euros / MWh
– From 13 to 14: 136.10 euros / MWh
– From 14 to 15: 119.12 euros / MWh
– From 15 to 16: 119.12 euros / MWh
– From 16 to 17: 118.25 euros / MWh
– From 17 to 18: 118.25 euros / MWh
– From 18 to 19: 120.00 euros / MWh
– From 19 to 20: 155.93 euros / MWh
– From 20 to 21: 170.00 euros / MWh
– From 21 to 22: 179.32 euros / MWh
– From 22 to 23: 180.60 euros / MWh
– From 23 to 0: 179.71 euros / MWh
This new rise in the cost of electricity comes in a context in which the heat wave is mixed, and the need for citizens to use fans and air conditioning more intensively, and the Government’s energy saving plan, which It went into effect this Wednesday. The year-on-year increase in electricity exceeds 140% compared to the same day last year, which is already forcing households to change their consumption habits.
In the absence of the ‘Iberian exception’ mechanism to cap the price of gas for electricity generation, the price of electricity in Spain would be an average of 341.54 euros/MWh, which is about 37 euros/MWh more than with the compensation for clients of the regulated rate, who will thus pay 11% less on average.
The so-called ‘Iberian mechanism’ limits the price of gas for electricity generation to an average of 48.8 euros per MWh for a period of twelve months, thus covering the coming winter, a period in which energy prices are more expensive . Specifically, this system sets a path for natural gas for electricity generation at a price of 40 euros/MWh in the initial six months, and subsequently, a monthly increase of five euros/MWh until the end of the measure.