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He price of electricityThis issue is increasingly becoming the main topic of conversation among Spaniards. And this is not surprising, because The amount of electricity increased in August.which allows them to increase energy consumption in homes in Spain.

During today August 26, 2024 average price of electricity on the wholesale market, according to the Iberian Operator of the Energy Market (OMIE), this will be 94.14 euros per megawatt hour (MWh), or what is the same, 0.09414 euros per kilowatt-hour (kW/h). This implies triple the previous day’s pool priceson Sunday, August 25.

As for regulated market (PVPK), The cheapest hours were between 3:00 and 4:00 am. in the morning when the price reached 0.10943 euros per kWh in the Iberian Peninsula, the Balearic and Canary Islands, and the autonomous cities of Ceuta and Melilla. On the contrary, The most expensive hours today will be from 21:00 to 22:00.where will the kilowatt hour go 0.27743 eurowhich is 277.43 euros per MWh.

Hourly breakdown of PVPC

This is an hourly breakdown of electricity prices in the regulated market (PVPC) as of today, August 26, 2024.

• Average price of the day: 0.16 EUR/kWh.
• The most precious time: 0.27743 EUR/kWh, from 21:00 to 22:00.
• Cheapest time: 0.10943 EUR/kWh, from 3:00 to 4:00 hours.

How does the Spanish electricity market work?

To understand the electricity market in Spain, we must take into account that How does this work this one. He daily electricity market This is what determines how much electricity will cost on a given day. based on various proposals from manufacturing companies.

They are proposals are dumped into a “pool”or wholesale marketand it is here that these production and distribution companies, through its centers (nuclear, hydro, renewable, etc.), they launch proposals meet demand at market pricesin everyday activities known as compare supply and demandwhich is nothing other than auction held by OMIE in Spain.

During these daily auctions Energy offered by the cheapest producers is considered first.such as nuclear power plants, while the most expensive ones usually come lastif it is necessary to satisfy demand. In this case it is known as maximum price What the price set by the last power plant to enter the pool to meet current demand.

Similarly, these prices are determined by a number conditions. The first of them is own costs of producing this energywhich varies depending on the source, whether it is renewable energy or not, and the meteorological conditions that allow the creation of said energy, such as whether there is wind for wind energy. Also taxeswhich of 5.11% since 2015 and 21% corresponds to VAT.

Also demand itself influencesgiven that On very hot or very cold days, demand usually increases.therefore the price per kilowatt hour (kWh) will also increase accordingly on the wholesale market. Speaking of markets, they also have an impact, since depending on whether the consumer is in free marketWhere Each marketer sets their own pricesregardless of whether it is a fixed rate or indexed; or adjustable (PVPC) where government does so; price may vary.

As for units of measurementV electricity billswhich are documents that marketers show customers how much electricity they have consumed over a certain period of time. kilowatt and kilowatt hour (kWh), the latter allows you to see consumption on different days. In turn, megawatt hours (MWh) are used in the wholesale market.