Electricity price today: these are the cheapest time periods

The average electricity price will decrease by 10.48% for this Tuesday compared to this Wednesday. 186.84 euros per megawatt hour (MWh).

In this way, the average price of the ‘pool’ will be this Wednesday. below 200 Euro/MWh for the first time since last Sunday According to data published by the Iberian Energy Market Operator (OMIE), it will be 21.87 euros cheaper than today.

This is the minimum electricity price for May 11, 16:00 and 17:00With 154.4 euro/MWh, the maximum for the day will be 228.84 euro/MWh and will be recorded between. 08:00 and 09:00 hours.

Compared to a year ago, the average electricity price for this Wednesday will be 245.68% more expensive than 54.05 Euro/MWh on 11 May 2021.

‘Pool’ prices have a direct impact on the regulated rate — the so-called PVPC — at which approximately 11 million households are covered in the country and serve as a benchmark for the other 17 million contracted. their supply in the free market.

In fact, the National Markets and Competition Commission (CNMC) confirmed that in 2021, around 1.25 million people switched from PVPC to a free market rate at a fixed price, within the framework of the energy’s upward spiral.

BILL IN APRIL 53% MORE EXPENSIVE THAN A YEAR AGO

According to data from Facua-Consumers in Action, the average user’s electricity bill last April reached 124.90 euros, the fifth highest in history, 53.2% above the 81.55 euros in the same month last year.

However, the invoice decreased by 29.3% in April compared to March, when a historical record monthly electricity price of more than 283 euro/MWh was generated in the wholesale market.

In April 2021, the price per kilowatt hour (kWh) of electricity averaged 17.04 cents (27.19% including indirect taxes).

‘IBERIA EXCEPTION’

This Tuesday, the governments of Spain and Portugal signed an agreement with the European Commission to set a cap on the gas price, which will average 50 euros/MWh over the next twelve years in the wholesale electricity market of the Iberian Peninsula. months.

According to the agreement reached with the Community Manager, the gas reference price will initially be set at approximately EUR 40/MWh and It will set an average price of 50 Euro/MWh for 12 months this is in effect 20 euros more than the ceiling of 30 euros proposed by Spain and Portugal.

In addition, on 29 March, the Government approved a national plan to deal with the effects of the war in Ukraine, which included, among other measures, the extension of the tax relief on taxes on electricity bills until the next 30 June. As an extension of the electricity social coupon to reach 1.9 million beneficiary households.

An early and extraordinary update of the regulated fee regime for renewable energy, cogeneration and waste (Recore) was also adopted with a 1,800 million Euros cut in electricity bill fees.

Another measure decided by the executive was the extension of the gas reduction until 30 June in order to reduce the extraordinary profits in the electricity market, extending the scope of application to cover energy with futures and at a fixed price from the entry of the contract. the norm if the price in question is higher than 67 Euro/MWh.

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STABILITY SINCE STABILITY

On February 24, when the Russian invasion of Ukraine began, the wholesale market price was 205.6 euro/MWh, and since then there has been a daily rise in price, reaching its peak on March 8, when the price was at an absolute level. A record 544.98 euro/MWh.

However, since 12 March, the wholesale price has been hovering around 250 euro/Mwh, but continued to decline in the last five days and fell below 230 euros.

MARCH THE MOST EXPENSIVE MONTH IN HISTORY

On February 24, when the Russian invasion of Ukraine began, the wholesale market price was 205.6 euro/MWh, and since then there has been a daily rise in price, reaching its peak on March 8, when the price was at an absolute level. A record 544.98 euro/MWh.

In this context, the average price of the wholesale market in March was around 283.30 Euro/MWh, and with 239 Euro/MWh until then, it was 55 Euro above the average of December 2021, the most expensive month in history.

Wholesalers have direct influence on the regulated tariff, or PVPC, which covers approximately 11 million consumers in Spain, and acts as a reference for the other 17 million contracting their supplies in the open market.

The military conflict between Ukraine and Russia could push energy prices higher in the coming weeks, especially when it comes to gas, as Russia’s imports to Europe risk slowing due to European Union sanctions.

In order to soften the impact of the increase in electricity prices on consumers, the Government extended the tax cut on taxes on electricity bills until 30 June.

The rise in prices affecting a large part of Europe is due, among other factors, to the higher cost in international markets and the rise in value of the gas used in combined cycle power plants, which determines the market price in most hours. carbon dioxide (CO2) emission rights.

To soften the impact of the rise in electricity prices on consumers, the Government extended the tax cut on taxes on electricity bills for the first four months.

The rise in prices affecting a large part of Europe is due, among other factors, to the higher cost in international markets and the rise in value of the gas used in combined cycle power plants, which determines the market price in most hours. carbon dioxide (CO2) emission rights.

The military conflict between the two former Soviet countries could push energy prices higher in the coming weeks, especially when it comes to gas, as Russia’s imports to Europe risk being slowed by Russia’s sanctions. European Union.

2021 became the most expensive year of electricity

The light closed 2021 with: most expensive year historical seriesDue to the upward spiral recorded in the ‘pool’ in the second half, it was realized at an average price of 111.93 Euro/MWh.

This electricity price The average price of the daily market last January was 201.72 euros/MWh, 235.3 percent higher than the average price of the same month last year and 15.7% lower than in December 2021.

The government extended the reduction of taxes included in the tariff until April 30. electricity bill all consumers to pay to mitigate the negative impact of rising electricity prices on citizens.

In particular, the reduction of VAT from 21% to 10% and special electricity tax from the legal minimum of 5.11 to 0.5% has been extended until 30 April. However, the suspension of the 7% production tax paid by companies will only last until March 31st for now.

Source: Informacion

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