According to data from the Iberian Electricity Market Operator, OMIE, electricity prices have surged markedly, reflecting a price level nearly five times higher than a year earlier. The latest reading shows a rate of 43.16 euro per megawatt-hour (MWh), highlighting a dramatic shift in seasonal and market conditions that influence households and businesses alike.
When examining hourly fluctuations, the upcoming Friday is expected to see its peak between 21:00 and 22:00, reaching 241.87 euro/MWh. The day’s trough is anticipated between 3:00 and 4:00, falling to 136.59 euro/MWh, illustrating the pronounced diurnal variation typical of the wholesale electricity market.
During the first half of May, the average price sits around 192.50 euro/MWh. Although this marks a level near 283.3 euro/MWh at the high point, the period still shows a roughly 32% drop from March, historically the most expensive month on record. This May reading remains well above the 2021 average of 111.4 euro/MWh and underscores the persistent volatility that characterizes the Iberian market when compared with long-term trends available in historical datasets.
On the information system for electricity pricing, operated by Red Eléctrica, Esios, the voluntary price for small consumers (PVPC) paid by roughly 11 million citizens under regulated market contracts stands at 282.89 euro/MWh on average this Friday. This figure marks an increase from Thursday by about 6.7%, reflecting how wholesale movements feed through to consumer bills in the short term.
The PVPC data includes the pool’s daily result (today at 202.99 euro/MWh) and additional intraday market charges along with the variable portion of the monthly electricity bill. These components together determine the price faced by households and small businesses within the regulated framework, illustrating the direct link between wholesale dynamics and retail charges.
In government discussions on electricity policy, a plan has emerged to constrain the gas input used for electricity generation. Ministers are considering interventions designed to reduce electricity bills for consumers who rely on rates indexed to the wholesale market. The objective is to deliver meaningful relief to households and small enterprises while preserving grid reliability and market transparency during a period of elevated energy costs. The strategy includes aligning the price of the wholesale pool with broader regional prices, reflecting integration with neighboring markets while maintaining fair competition among suppliers.
Across Europe, market conditions for electricity show a mixed picture: France reports an average around 183.59 euro per megawatt-hour, Germany’s price hovers near 152.97 euro/MWh, and the United Kingdom marks approximately 126.45 euro/MWh. These figures emphasize the regional differences that energy buyers encounter in a closely connected continental market, where policy choices and market structure influence price levels for consumers and businesses alike.