The price of electricity tomorrow, Sunday, July 16, once again gives consumers a breather. In the middle of the weekend and with the drop in demand, the price this Sunday falls by 5.29% compared to this Saturday. Thus, this Sunday will be the second lowest price in the ‘pool’ for a day so far in July, only behind the 48.28 euros/MWh on July 2. Despite the fact that the price of electricity falls, consumers will look for the best time to use the appliances that consume the most, such as air conditioning or washing machines.
The average for the electricity ‘pool’ so far in July stands at 91.7 euros/MWh, compared to the 146.45 euros/MWh that it marked in the same month last year. 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 most expensive and cheapest hours of light on Sunday, July 16
By time slots, the maximum price, of almost 114.95 euros/MWh, will be recorded from 10:00 p.m. to 11:00 p.m.; while the minimum price will be given between 4:00 p.m. and 6:00 p.m., with 15.69 euros/MWh, and another seven more hours will be added with the price around 25 euros/MWh in the day.
Average price of electricity on Sunday, July 16: 59.67 euros megawatt/hour (MWh) Most expensive price of electricity on Sunday, July 16: 114.95 euros megawatt/hour: 15.69 euros megawatt/hour
Price of electricity tomorrow by time slots
From 00:00 to 01:00: 80.02 euros/MWh. From 01:00 to 02:00: 72.17 euros/MWh. From 02:00 to 03:00: 70.81 euros/MWh .From 03:00 to 04:00 hours: 69.71 euros/MWh.From 04:00 to 05:00 hours: 69.71 euros/MWh.From 05:00 to 06:00 hours: 71.63 euros/ MWh. From 06:00 to 07:00: 79.98 euros/MWh. From 07:00 to 08:00: 79.98 euros/MWh. From 08:00 to 09:00: 69.71 euros /MWh. From 09:00 to 10:00: 26.98 euros/MWh. From 10:00 a.m. to 11:00 a.m.: 25 euros/MWh From 11:00 a.m. to 12:00 p.m.: 25 euros/MWh From 12:00 p.m. to 1:00 p.m.: 25 euros/MWh From 1:00 p.m. hours: 25.02 euros/MWh. From 2:00 p.m. to 3:00 p.m.: 25 euros/MWh. From 3:00 p.m. to 4:00 p.m.: 20 euros/MWh. From 4:00 p.m. to 5:00 p.m.: 15 .69 euros/MWh. From 5:00 p.m. to 6:00 p.m.: 15.69 euros/MWh. From 6:00 p.m. to 7:00 p.m.: 34.6 euros/MWh. From 7:00 p.m. to 8:00 p.m.: 93.82 euros/MWh. From 8:00 p.m. to 9:00 p.m.: 100.98 euros/MWh. From 9:00 p.m. to 10:00 p.m.: 110.72 euros/MWh. From 10:00 p.m. to 11:00 p.m.: 114.95 euros/MWh .From 11:00 p.m. to 12:00 a.m.: 110 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, marketing, expenses 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 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 smoother.
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 from last April, to conclude at 65 euros/MWh.
Currently, the Mechanism has had 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.
