Electricity price in the wholesale market (pool) is scheduled for tomorrow, May 8, at 172.39 Euro per MWh (Euro/MWh), which represents a decrease of about 7% compared to the price set for this Saturday, which will be the lowest price so far this month.
According to data from the operator of the Iberian Electricity Market (OMIE), tomorrow’s maximum price will be recorded between 9:00 pm and 10:00 pm, when it will be 238.35 Euro/MW hour, while the minimum will reach 93.26 EUR/MW hour between 3:00 PM and 4:00 PM.
Thus, tomorrow, Sunday, the day of the week when economic activity is low and energy demand is low, will be the lowest price ever this month, and the cheapest since last April 24, when electricity was paid 146.95 Euro/MW
Despite this decline, the price of electricity will be for the second time in a row 17 times more Compared to the amount marked during the second Sunday of May (10.53 euros) last year, although it is still 16% lower than the figures for the previous 24 February, when the Russian invasion of Ukraine began.
Average price of electricity so far this month reaches 188.62 Euro/MWhNearly 100 Euros below the average recorded during March (283.3 Euros/MW), the most expensive ever in history, although almost double the price of 2021, which was crowned the most cumbersome year in the historic series with 111.4 Euros/MW Was.
Wholesale market prices have a direct impact on regulated tariffs, or PVPCs, which include about 11 million consumers in Spain, and serve as a reference for another 17 million who contract their supplies on the free market.
In this sense, the Russian invasion of Ukraine is creating tensions in the energy market, especially in the case of gas, due to the risk of slowing Russian imports into Europe by EU-imposed sanctions.
The government has approved a national plan to respond to the economic and social consequences of the situation in Ukraine, including a reduction in the tax on taxes levied on electricity bills until 30 June and an extension of the electricity social bonus until it reaches 1.9. lakh beneficiary families
In addition, the European Council recognized Spain and Portugal’s difficulty in coping with high energy prices, which would allow both countries to benefit from “special treatment” in their response, including those used to generate electricity. Involves setting a maximum price for gas. ,
In this regard, the European Commission has initially agreed to establish For the next twelve months the limit is 40 EUR/MWhTo stabilize at around 50 euros on average over the entire period, thus reducing electricity costs for Iberian consumers, a reduction that consumers will see by this month.
For the rest of the European countries, tomorrow in the United Kingdom will be paid on average £141.79 (about €166) for megawatt hours, while in Germany will be paid at €171.82; in France, at 175 euros; in Italy, at 208.85 euros; and in Portugal, which shares a market with Spain, although prices are sometimes reduced to 174.09 euros due to differences in production.