The price of electricity today Thursday, July 27, falls in the wholesale market and is below the barrier of 100 euros megawatt hour (MWh). It is the first day of the week that gives an economic respite to consumers in Spain who one more day will be waiting to know what is the most expensive and cheapest time to put the washing machine or turn on the air conditioning. Today you will save on your electricity bill because the cost of electricity will fall by 2%, according to the results of the auction held this Wednesday.
So far this month, electricity has been paid on average at 91.5 euros/MWh, compared to 257.9 euros/MWh registered in the same month of 2022, and since the beginning of this year the average price is 88.7 euros/MWh, slightly less than half of the 219.8 euros/MWh of the previous year. Likewise, electricity in Spain will today be 61% cheaper than a year ago, when it reached 254.7 euros/MWh, and will be above the main countries in its environment, with the exception of Italy.
The most expensive and cheapest hours of light on Thursday, July 27
By time slots, the maximum price, of 127 euros/MWh, will be registered between 22.00 and 23.00 hours, while the cheapest price of electricity will be between 16.00 and 17.00 hours, with 84.82 euros/MWh, according to provisional data from the Iberian Energy Market Operator (OMIE).
Average electricity price on Thursday 26 July: 99.2 euros megawatt/hour (MWh)Price of the most expensive electricity on Thursday 26 July: 127 euros megawatt/hourCheapest electricity price on Thursday 26 July: 84.82 euros megawatt/hour
Price of electricity today Thursday, July 27 by time slots
From 00:00 to 01:00 hours: 119,2 euros/MWh.From 01:00 to 02:00 hours: 111,15 euros/MWhFrom 02:00 to 03:00 hours: 108,5 euros/MWhFrom 03:00 to 04:00 hours: 107,86 euros/MWhFrom 04:00 to 05:00 hours: 105,1 euros/MWhFrom 05:00 to 06:00 hours: 107,86 euros/MWh.From 06:00 to 07:00 hours: 111,15 euros/MWh.From 07:00 to 08:00 hours: 113,35 euros/MWh.From 08:00 to 09:00 hours: 109.5 euros/MWh.From 09:00 to 10:00 hours: 99,12 euros/MWhFrom 10:00 to 11:00 hours: 96,8 euros/MWhFrom 11:00 to 12:00 hours: 90,39 euros/MWhFrom 12:00 to 13:00 hours: 86,45 euros/MWhFrom 13:00 to 14:00 hours: 80,01 euros/MWhFrom 14:00 to 15:00 hours: 78,33 euros/MWhFrom 15:00 to 16:00 hours: 76,01 euros/MWhFrom 16:00 to 17:00 hours: 73.6 euros/MWh.From 17:00 to 18:00 hours: 76.51 euros/MWh.From 18:00 to 19:00 hours: 77.84 euros/MWhFrom 19:00 to 20:00 hours: 87.56 euros/MWhFrom 20:00 to 21:00 hours: 111.0 euros/MWhFrom 21:00 to 22:00 hours: 118,0 euros/MWh.From 22:00 to 23:00 hours: 121,0 euros/MWhFrom 23:00 to 24:00 hours: 115,25 euros/MWh
Factors influencing price escalation
The rise in prices in most European countries is attributed to several factors, including the increase in the price of gas in international markets. This fuel is used in combined cycle power plants and has a significant impact on determining market prices during most hours of the day. In addition, the increase in the value of carbon dioxide (CO2) emission rights also contributes to this situation.
Why does the price of electricity change in each time slot?
The prices of the electricity bill are flexible and are linked to the wholesale electricity market. That is why the price of electricity in each time period is determined based on the energy demand at that time, which leads to a constant variation in the cost of electricity throughout the day.
For example, during periods of high demand due to more extreme cold temperatures for heating or extreme heat for air conditioners, prices tend to rise. In addition, it is important to consider that the expenses associated with adjustment services, charges, capacity payments, marketing, tolls and the price for interruptibility, among others, may vary in price from hour to hour. With the entry into force in January 2024 of the new methodology for calculating the new regulated electricity tariff, it is expected to give more stability to the electricity market.
