Electricity remains at minimum levels this Monday, below 4 euros/MWh for the second consecutive day

MADRID, 25 Feb.

Electricity remains at minimum levels this Monday, below 4 euros/MWh for the second consecutive day


The price of the wholesale electricity market, the so-called 'pool', will remain below 4 euros/MWh this Monday, specifically with an average of 3.82 euros per megawatt hour (MWh) throughout the day. In this way, it remains at the lowest levels so far this year for the second consecutive day, after registering 3.06 euros per megawatt hour (MWh) this Sunday.

The maximum price will be 11.75 euros/MWh, between 8:00 p.m. and 9:00 p.m., while one hour, between 3:00 p.m. and 4:00 p.m., will be at zero euros/MWh, according to provisional data from the Iberian Market Operator. Energy (OMIE) collected by Europa Press.

During the early morning hours, from 2:00 a.m. to 5:00 a.m., and in the afternoon, between 12:00 p.m. and 5:00 p.m., low values ​​will also be recorded. At 0.1 euros/MWh between the early morning hours and values ​​between 0.43 and zero euros/MWh between the early afternoon hours.

However, this price is not then transferred to the receipt exactly at those zero euros, since there are fixed costs for the electricity consumer, due to tolls, charges and system adjustments.

This Sunday the lowest price was recorded so far in 2024, with an average for the day of 3.06 euros per megawatt hour (MWh), after recording a decrease of 56% compared to this Saturday's price.

This significant decline in the wholesale electricity market is mainly due to the presence of an Atlantic front that causes strong gusts of wind and which, in turn, drives the presence of renewables - especially wind - in the 'mix'. generation, as well as the drop in demand with the arrival of the weekend compared to weekdays.

The 'pool' does not exactly represent the final amount in the price of electricity for a consumer covered by the regulated tariff, since with the entry in 2024 a new method of calculating the PVPC was adopted, which incorporates a basket of prices at medium and long term to avoid strong fluctuations, without losing short-term price references that encourage savings and efficient consumption.

Specifically, the proportion of linkage with the 'pool' price will be progressively reduced, to incorporate the references of the futures markets, so that these represent 25% in 2024, 40% in 2025 and 55% at from 2026.