The price of electricity fell 33% and below 130 euros on Sunday

This electricity price It is located for the wholesale market (pool). Sunday, May 15, 127.23 Euros representing megawatt hours (euro/MWh) more than 33% reduction regarding the value determined for this Saturday that you will be lowest price ever this month.

According to the data of the Iberian Electricity Market Operator (OMIE), it will be recorded between 21:00 and 22:00 on Sunday, with a maximum price of 226.18 euro/MWh, with a maximum price of 226.18 euro/MWh. will reach 1.03 Euro/MWh between 15.00 and 17.00 minimum..

Thus, the price on Sunday, the day of the week when economic activity is reduced and energy demand is lower, will be the lowest price ever this month, and Cheapest since April 23when electricity is paid at 86.25 euro/MWh.

Despite this decrease, electricity price for the second consecutive year five times the amount marked on the third Sunday of May of the previous year (26.65 euros), but 38% below the figures on February 24, when the Russian invasion of Ukraine began.

The wholesale market prices have a direct impact on the regulated tariff, or PVPC, which covers more than 10 million consumers in Spain and acts as a reference for the other 18 million contracting their supplies in the open market.

In this sense, it causes Russia to invade Ukraine. tension in the energy marketEspecially on gas, because of the risk that Russia’s imports to Europe will slow down due to sanctions imposed by the European Union.

The government approved national response plan Given the economic and social consequences of the situation in Ukraine, which includes the extension of the tax relief on taxes on electricity bills until 30 June and the extension of the electricity social bonus to 1.9 million beneficiary households.

In addition, after recognition by the European Council of Spain and Portugal’s difficulty in dealing with high energy prices due to their low level of interconnection with the rest of the continent, both countries initiated a mechanism. Will limit gas price for electricity generation for 12 months.

This mechanism, which will limit the gas price to an average of 48.8 euro/MWh during the measure period, will allow the price of electricity in the wholesale market (pool). 40% down Up to 130 euros per megawatt hour (MWh) from June, according to the executive’s calculations.

As for the rest of the European countries, the megawatt hour average in the UK is £103.41 (around 122 euros) on Sunday, and 149.03 euros in Germany; from 147.72 Euros in France; from 217.56 Euros in Italy; and Portugal at the same price as Spain, sharing market share.

Source: Informacion

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