this electric energy is set to rise by 0.89 percent this Thursday, climbing to 276.34 € per megawatt hour (MWh) and including an adjustment paid by gas cap beneficiaries. This adjustment helps compensate facilities that rely on this material, based on the outcomes of the wholesale market auction, often referred to as the pool.
Data from electricity market operator OMIE and the Iberian Gas Market (Mibgas) indicate that the wholesale price of electricity, which corresponds to the price paid by consumers on a regulated tariff, would be 35 euros lower if the cap were not included in the gas price for electricity generation. In other words, without the gas ceiling, the average cost would approach 311.37 MWh rather than the observed level with the cap in place.
Viewed in this context, the price without a gas ceiling remains at a peak not seen since July 29, though it remains about 50 percent below the historical maximum recorded on March 8, when prices reached 544.98 euro/MWh, a milestone reached shortly after the onset of the conflict in Ukraine. The energy market in Europe has faced continued volatility since then, driven by a mix of geopolitical tensions, supply concerns, and aging infrastructure.
Across Europe, electricity prices persist at elevated levels in the principal economies of the region. In Italy, for instance, last traded values touched highs around 584.99 euros per MWh, while the daily average hovered near 486.41 euros, representing a roughly 12 percent rise from the prior day. Other notable movements include exchanges in France and Germany, where prices reached approximately 376.23 and 368.15 euros per MWh, respectively, with afternoon peaks around 540 euro/MWh anticipated in both countries. The United Kingdom also experienced modest increases, with daytime prices near 277.29 pounds per MWh, equivalent to about 327.63 euros at current exchange rates. In Portugal, the so‑called Iberian exception continues to influence pricing, yielding only a marginal increase over Spanish prices, though regional differences in production and market segmentation can produce variations in actual costs for consumers.
Auction and setup
When considering only the wholesale market results and excluding the gas cap adjustment paid to compensate facilities using the material, electricity would rise by about 3.7 percent to roughly 150.13 Euro/MWh. The timing of the peak price is typically aligned with the evening hours, and in this case the maximum price is forecast between 21:00 and 22:00, reaching around 176.05 Euro/MWh. Conversely, a daily trough is expected between 15:00 and 16:00, around 122.5 Euro/MWh.
It is important to note that these figures do not stand alone. The final price faced by consumers also reflects the cost of gas installations, whose amount varies with system volume and the prevailing price. This factor has tangible repercussions for both households and businesses, influencing overall energy expenditure and budgeting decisions during the period in question.
For the referenced Thursday, the average adjustment for consumers is projected to be 126.21 Euros per MWh, yielding a final price of 276.34 Euros per MWh. This results in a multi-day sequence that has more than doubled the level observed a year earlier, a clear indicator of the ongoing volatility in energy markets across Europe. The broader context shows how interconnected factors such as generation mix, capacity constraints, and regulatory mechanisms feed into the price paid by end users, even as occasional temporary alignments with regional markets persist.