turn everything off now

electricity

He average price of electricity for tariff-regulated customers linked to the wholesale market, this Thursday, January 18, it will double to 46.84 euros per megawatt-hour (MWh), according to preliminary data from the Iberian Energy Market Operator (OMIE).

He Maximum price electricity, 105 euros/MWh, will be recorded from 20:00 to 21:00. Therefore, avoid turning on appliances at this time. In contrast, the minimum electricity price of €0.43/MWh will be reached between 03:00 and 04:00.

According to OMIE, the price of electricity for tariff-regulated consumers linked to the wholesale market fell by 70% this Wednesday, January 17, to €26.96 per MWh. The maximum price for electricity – 54.88 euros/MWh – was recorded from 20:00 to 21:00. In contrast, a minimum electricity price of €4.9/MWh was reached between 03:00 and 05:00.

TO half price Compensation to gas companies will be added to the pool to be paid by consumers who are beneficiaries of this measure, regulated tariff consumers (PVPC) or those who, despite being in the free market, have an indexed tariff, but it again amounts to 0 €/MWh, a situation that has been repeated since February 27 last year, according to agencies consulted through this facility.

The so-called Iberian exception It was extended until December 31 following an agreement reached by Spain and Portugal with the European Commission. Thus, it was extended for seven months, until the end of last year, and it is possible that it could be extended for a longer period if the mentioned framework is also increased.

Finally, the mechanism refused on December 31, after consideration European Commission that “it is impossible to put this into practice.” “The extension of the Iberian Mechanism requires the approval procedure of the Directorate General for Competition of the European Commission, which made it clear that it understands that after December 31 of this year it is not possible to implement it in practice,” the vice-president then said at a press conference after the meeting of energy ministers.

Electricity price in 2023

According to the company, the average electricity price ended 2023 at €87.43 per megawatt-hour (MWh), down 58.3% from the previous year, when it rose to €209.69/MWh, and becoming the most competitive in Europe for the second year in a row. to the ASE group data.

The consulting company’s experts stressed that after the competitive advantage of the Spanish market in 2022 was based mainly on Iberian gas stop mechanismwhich only came online in the first two months of 2023, the best results last year were achieved due to a 16% increase in renewable generation.

From my side, power generation fell by 3.3% compared to the previous year due to reduced electricity demand (-2.7%) and a fall in the export balance (-28.6%). Similarly, wind power leads the electricity generation mix for the third year in a row with 24.5% of total production, followed by nuclear power with 21.5%.