2024-02-10 15:41:34
The price of the wholesale electricity market, the so-called pool, will rise this Sunday to 44.83 euros per megawatt hour (MWh), after its lowest price so far in 2024 was recorded this Saturday, with an average for the day of 9.47 euros/MWh.
The maximum price on Sunday will be 83.98 euros/MWh, registering between 7:00 p.m. and 8:00 p.m., while the minimum, 20.50 euros/MWh, will occur between 3:00 a.m. and 4:00 a.m., according to provisional data from the Operator of the Iberian Energy Market (OMIE). With this, the price of electricity has now been below 100 euros per MWh for 32 days. Furthermore, in a year-on-year comparison, this Sunday registered a reduction of 65.3% since on February 11 of last year the price was 129.07 euros per MWh.
This Saturday was the day with the lowest electricity price of the year. The daily average was only slightly above nine euros per megawatt hour (MWh), compared to the 74 euros on average in January and 55 so far in February. And the third part of the day, between 10 in the morning and six in the afternoon, electricity has been virtually free.
The storms Karlotta and the usual drop in demand on the weekend has brought electricity this Saturday to its lowest level so far this year. The origin of this drastic decrease must be found in two factors, both climatological: wind – wind generates almost 44% of the electricity produced – and water – which contributes 20%, almost as much as nuclear energy, to a large extent. due to the growth of non-adjustable waterfalls thanks to the return of rain and the more than predictable discharges. Solar energy, on the other hand, remained at just over 4% this Saturday, with maximums of 12% between one and four in the afternoon.
The pool does not exactly represent the final amount in the price of electricity for a consumer covered by the regulated tariff, since with the entry in 2024 a new method of calculating the PVPC was adopted, which incorporates a basket of prices in the medium and long term to avoid strong fluctuations, without losing short-term price references that encourage savings and efficient consumption. Specifically, the proportion of linkage with the pool price will be progressively reduced, to incorporate the references of the futures markets, so that these represent 25% in 2024, 40% in 2025 and 55% from 2026.
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