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The price of electricity tomorrow, Sunday, drops almost 50% and you will have six hours free

Date: June 17, 2024 Time: 20:10:00

The price of electricity, tomorrow, Sunday, August 27, for regulated rate customers linked to the wholesale market, gives new breath to the pocket and will drop 48.65%, to 52.31 euros per megawatt hour (MWh). This Sunday, unlike the past, there will be up to six free hours, and another four below the 5-euro barrier, without a doubt to take into account to take advantage of and use the appliances that consume the most, such as the dishwasher or the washing machine and save on electric bill.

In this way, the price of electricity continues to fall for the fourth consecutive day, after last Wednesday reaching its highest level of the summer for one day and the maximum since the beginning of March, with 134.94 euros/MWh. In these 27 days of the month, the electricity market average stands at almost 95.04 euros/MWh, compared to 288.35 euros/MWh that it registered in August 2022.

Compensation for gas users would be added to this average pool price, which must be paid by consumers who are beneficiaries of the measure, consumers of the regulated tariff (PVPC) or those who, despite being on 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 most expensive and cheapest hours of light on Sunday, August 27

By time slots, the maximum price, of 127.55 euros/MWh, will be registered between 9:00 p.m. and 10:00 p.m., while the minimum price will be given between 10:00 a.m. and 5:00 p.m., with 0 euros/MWh, according to a report provisional data from the Iberian Energy Market Operator (OMIE) collected by Europa Press.

Average light price on Sunday, August 27: 52.31 euros megawatt/hour (MWh) Most expensive light price on Sunday, August 27: 127.55 euros megawatt/hour August 27: 0 euros megawatt/hour.

Price of electricity tomorrow Sunday by time slots

From 00:00 to 01:00: 102.39 euros/MWh. From 01:00 to 02:00: 92.92 euros/MWh. From 02:00 to 03:00 hours: 91.5 euros/MWh. From 03:00 to 04:00: 89.82 euros/MWh. From 04:00 to 05:00: 83.33 euros/MWh. From 05:00 to 06:00: 82.9 euros/MWh .From 06:00 to 07:00 hours: 82.73 euros/MWh. From 7:00 a.m. to 8:00 a.m.: 80.1 euros/MWh. From 8:00 a.m. to 9:00 a.m.: 40 euros/MWh. From 9:00 a.m. to 10:00 a.m.: 4.3 euros/MWh. From 10:00 a.m. to 11:00 a.m.: 0 euros/MWh. From 11:00 a.m. to 12:00 p.m.: 0 euros/MWh. From 12:00 a.m. to 1:00 p.m.: 0 euros/MWh. From 1:00 p.m. to 2:00 p.m.: 0 euros/MWh. From 2:00 p.m. to 3:00 p.m.: 0 euros/MWh. From 3:00 p.m. to 4:00 p.m.: 0.01 euros/MWh. From 4:00 p.m. at 5:00 p.m.: 0 euros/MWh. From 5:00 p.m. to 6:00 p.m.: 1.64 euros/MWh. From 6:00 p.m. to 7:00 p.m.: 4.3 euros/MWh. From 7:00 p.m. to 8:00 p.m.: 46.5 euros/MWh. From 8:00 p.m. to 9:00 p.m.: 103.5 euros/MWh. From 9:00 p.m. to 10:00 p.m.: 127.55 euros/MWh. From 10:00 p.m. to 11:00 p.m.: 119 euros/MWh. From 11:00 p.m. to 12:00 a.m.: 102.99 euros/MWh.

​Factors influencing price escalation

The rise in prices in most European countries is attributed to various factors, including the rise in gas prices on international markets. This fuel is used in combined cycle 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 hourly period?

Electricity bill prices are flexible and linked to the wholesale electricity market. For this reason, the price of electricity in each hourly period is determined based on the demand for energy at that time, which gives rise to a constant variation in the cost of electricity throughout the day.

For example, during periods of high demand due to 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, commercialization, regrets and the price for interruptibility, among others, can vary the price from one hour to another. With the entry into force in January 2024 of the new calculation methodology for the new regulated electricity tariff, it is expected to give more stability to the electricity market.

The Iberian exception

The so-called ‘Iberian exception’ has been extended 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.

Specifically, the agreement not only represents an extension of the Iberian exception that was already 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 quoted reference price for gas had an average value of €48.8/MWh: it was €40/MWh for six months, rising by €5/MWh each month thereafter. Now, it will increase by 1.1 euros/MWh from last April, to conclude at 65 euros/MWh.

Currently, the Mechanism Has No Effect on the Marginal Matching Processes in the Wholesale Markets at the end of February, due to the drop in the price of Natu Natural Gas below the thresholds set for its application, but, if necessary, the extension It will allow maintaining a reasonable price, not so dependent on the evolution of natural gas.

* 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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