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The price of electricity opens August with a 2.5% drop: cheaper and more expensive hours

Date: April 19, 2024 Time: 15:02:17

The average price of electricity for regulated rate customers linked to the wholesale market will be released tomorrow, Tuesday, August 1, with a 2.5% drop compared to Monday. It will thus be situated at 86.65 euros per megawatt/hour. The cheapest hours to put the appliances will be from the afternoon.

To this average price of the ‘pool’ would be added the compensation to the gas companies, which must be paid by the consumers who are beneficiaries of the measure, the consumers of the regulated tariff (PVPC) or those who, despite being in the free market , have an indexed rate, but which are again at 0 euros/MWh, a situation that has been repeated since February 27.

The so-called ‘Iberian exception’ lasted until December 31, after the agreement reached by Spain and Portugal with the European Commission. Thus, it is extended for seven months, until the end of this year, and it is not excluded that it could be extended for a longer time if said framework is also extended.

Extension of the Iberian exception

Specifically, the agreement not only represents an extension of the Iberian exception that has already been applied, but also implies some adjustments to accommodate it, such as the price reference, which until now increased by five euros per month, and will now be softer.

In the original agreement, the aforementioned reference price for gas had an average value of 48.8 euros/MWh: it was 40 euros/MWh for six months, rising 5 euros/MWh every month thereafter. Now, it will increase by 1.1 euros/MWh since last April, to conclude at 65 euros/MWh.

Currently, the mechanism has had no effect on the marginal matching processes in the wholesale markets since the end of February due to the drop in the price of natural gas below the thresholds set for its application, but, if necessary, the extension will allow the man have a reasonable price, not so dependent on the evolution of natural gas.

The price of electricity on August 1 by time slots

By time slots, the maximum price, of 115 euros/MWh, will be recorded between 10:00 p.m. and 11:00 p.m., while the minimum price will be between 4:00 p.m. and 5:00 p.m., with 64.60 euros/MWh, according to the provisional data from the Iberian Energy Market Operator (OMIE) collected by Europa Press.

From 00:00 to 01:00: 103.09 euros/MWh. From 01:00 to 02:00: 96.94 euros/MWh. From 02:00 to 03:00: 87.79 euros/MWh .From 03:00 to 04:00 hours: 82.5 euros/MWh.From 04:00 to 05:00 hours: 78.6 euros/MWh.From 05:00 to 06:00 hours: 79.26 euros/ MWh. From 06:00 to 07:00: 93.86 euros/MWh. From 07:00 to 08:00: 94.69 euros/MWh. From 08:00 to 09:00: 100.98 euros /MWh. From 09:00 to 10:00: 87.76 euros/MWh. From 10:00 a.m. to 11:00 a.m.: 76.5 euros/MWh. From 11:00 a.m. to 12:00 p.m.: 78.99 euros/MWh. From 12:00 p.m. to 1:00 p.m.: 75.1 euros/MWh From 1:00 p.m. to 2:00 p.m.: 68.57 euros/MWh. From 2:00 p.m. to 3:00 p.m.: 64.6 euros/MWh. MWh. From 4:00 p.m. to 5:00 p.m.: 64.6 euros/MWh. From 5:00 p.m. to 6:00 p.m.: 68.5 euros/MWh. From 6:00 p.m. to 7:00 p.m.: 79.12 euros /MWh. From 7:00 p.m. to 8:00 p.m.: 94.69 euros/MWh. From 8:00 p.m. to 9:00 p.m.: 105.22 euros/MWh. From 9:00 p.m. to 10:00 p.m.: 112.77 euros/MWh. From 10:00 p.m. to 11:00 p.m.: 115.0 euros/MWh. From 11:00 p.m. to 12:00 a.m.: 104.55 euros/MWh

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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