The price of electricity tomorrow, Tuesday, July 25, goes up again. It will do so less than the rise registered in the price of electricity on Monday (almost 50% more), but it does not give consumers of the regulated tariff (PVPC) any respite. For time slots, the highest amount will exceed 120 euros per megawatt/hour (MWh). We will have to be careful with that moment and find the cheapest time to put the washing machine or use the rest of the electrical appliances if we want to save on the electricity bill. The average of the electricity ‘pool’ so far in July stands at 90.73 euros/MWh, compared to the 142.98 euros/MWh that it marked in the same period last year.
The most expensive and cheapest hours of light on Tuesday, July 25
By time slots, the maximum price, of 120.01 euros/MWh, will be recorded between 9:00 p.m. and 10:00 p.m., while the minimum price will be between 4:00 p.m. and 6:00 p.m., with 71.5 euros/MWh.
Average price of electricity on Tuesday, July 25: 61.93 euros megawatt/hour (MWh) Most expensive price of electricity on Tuesday, July 25: 114.95 euros megawatt/hour
Price of electricity tomorrow, Tuesday, July 25, by time slots
From 00:00 to 01:00: 99.87 euros/MWh. From 01:00 to 02:00: 90.43 euros/MWh. From 02:00 to 03:00: 90.1 euros/MWh. From 03:00 to 04:00: 89.87 euros/MWh. 5:00 a.m.: 86.99 euros/MWh. From 05:00 to 06:00: 90.43 euros/MWh. From 06:00 to 07:00: 103.0 euros/MWh. From 07:00 to 08:00: 103.84 euros/MWh. From 08:00 to 09:00: 10 3.39 euros/MWh. From 9:00 a.m. to 10:00 a.m.: 99.0 euros/MWh. From 10:00 a.m. to 11:00 a.m.: 89.71 euros/MWh. From 11:00 a.m. to 12:00 p.m.: 78.0 euros/MWh. 3:00 a.m. to 2:00 p.m.: 78.0 euros/MWh. From 2:00 p.m. to 3:00 p.m.: 73.0 euros/MWh. From 3:00 p.m. to 4:00 p.m.: 72.2 euros/MWh. 1.5 euros/MWh. From 6:00 p.m. to 7:00 p.m.: 72.0 euros/MWh. From 7:00 p.m. to 8:00 p.m.: 89.71 euros/MWh. From 8:00 p.m. to 9:00 p.m.: 110.38 euros/MWh. . From 10:00 p.m. to 11:00 p.m.: 110.84 euros/MWh. From 11:00 p.m. to 12:00 a.m.: 105.45 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 energy demand at that moment, 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 since the end of February, due to the fall in the price of natural gas below the thresholds set for its application, but, if necessary, the extension will allow a reasonable price to be maintained, not so dependent on the evolution of natural gas.
