The price of electricity this Sunday will record the lowest price in 2024 – 3 euros/MWh.

MADRID, February 24 (EUROPE PRESS) –

The price on the wholesale electricity market, the so-called “pool”, will register this Sunday its lowest price for 2024, with an average daily price of 3.06 euros per megawatt-hour (MWh), after a decline of 56 euros. % compared to this Saturday’s price.

The maximum price will be 7.2 euros/MWh when registering from 21:00 to 22:00, and one hour from 16:00 to 17:00 will cost 0 euros/MWh, according to preliminary data from Market Operator Ibérico de Energía (OMIE). collected by Europa Press.

Along with the zero EUR/MWh hour, which will be marked by the “pool”, other hours will also be recorded at almost the same levels -0.43 EUR/MWh and 0.01 EUR/MWh-, between 12:00 and 16:00 and between 5 00:00 and 18:00. A total of five hours, during which the price will be about 0.0 euro/MWh.

However, this price is then not transferred to the receipt exactly at these euro zeros, since there are fixed costs for the electricity consumer due to tolls, fees and system adjustments.

Such a significant decline in the wholesale electricity market will be due mainly to the presence of storms in the form of winds and storms, which will contribute to an increase in the presence of renewable energy sources, especially wind, in the generation “mix”, as well as a decrease in demand with the arrival of the weekend compared to weekdays.

The “pool” does not fully reflect the final price of electricity for a regulated consumer, as with the introduction of a new PVPC calculation method in 2024 that includes a basket of average and long-term prices to avoid large fluctuations without losing these are short-term reference prices that encourage savings and efficient consumption.

Specifically, the share of pool price linkage will be phased out to include links to futures markets, so that it will be 25% in 2024, 40% in 2025 and 55% from 2026 onwards.