Storm Aline hit the peninsula and brought welcome news for consumers. On Friday, the average price of electricity for those on regulated tariffs fell by 65.9 percent compared with the previous day, dipping to as low as 23.12 euros per megawatt hour MWh. Strong winds and heavy rain across Spain pushed wholesale electricity prices to their lowest levels since mid April, a relief for households and small businesses alike.
Across regional time zones, the peak rate is expected to be 74.99 euros per MWh between 8 and 9 pm, while the cheapest window runs from 16.00 to 17.00, when prices may drop to about 1.64 euros per MWh. These figures come from the Iberian Energy Market Operator OMIE and illustrate the daily volatility typical of storm-driven energy demand and supply dynamics.
For consumers seeking lower bills, a look back provides a helpful reference. In mid April, prices briefly touched 21.77 euros per MWh, a reminder that periods of affordability do occur periodically. On the current Friday there are several hours, specifically a total of 14, when prices stay below 10 euros per MWh, and there is no hour during the day when prices exceed 100 euros per MWh. This pattern reflects a balance of wind generation and gas-fired generation in the energy mix.
The weather system in the latter half of October has boosted daily wind energy production, with forecasts signaling above-average output around 266 GWh. This increase helps suppress the activity of gas-equipped combined cycles, easing wholesale prices and easing pressure on consumers and industry alike.
Price fluctuation in October
Early October saw a drought and low wind output that reduced renewable generation. Gas prices rose in response to global events and industrial actions that affected utilities. There have been concerns raised by various energy players about sabotage claims around Baltic oil flows and the status of certain nuclear plants, which can influence market sentiment and price movements.
In the Iberian Gas Market Mibgas the price for tomorrow is set at 42.72 euros per MWh, showing a slight decrease from today. This level is well below the threshold that would trigger particular government price controls designed to keep electricity affordable for consumers on regulated tariffs. The market’s behavior underscores how policy tools interact with real-time supply and demand in shaping daily rates.
Year-to-date, the wholesale electricity price for regulated-rate consumers has averaged around 105.57 euros per MWh, still below the peak reached in October 2022 and below September’s level of 103.62. The broader trend shows how volatility, renewable output, and policy measures combine to influence the cost of power for households and businesses.
Related news
Across Europe, electricity prices have seen shifts as renewables supply changes and geopolitical events impact markets. For the year 2023, electricity generally remained cheaper than in 2022 when disruptions began, though regional dynamics still led to notable price movements. The wholesale electricity outlook for the near term remains uncertain, with costs fluctuating based on wind, gas, and policy interventions. A recent comparison shows the UK averaging around 73 pounds per MWh, with France around 86.1 euros, Germany near 87.2 euros, and Italy around 138 euros per MWh at different moments in time. These figures illustrate how European energy markets move in concert with global supply and demand shifts, including the influence of renewables and gas markets on consumer prices.