MADRID, 24 Feb. (EUROPA PRESS) -

The price of the wholesale electricity market, the so-called 'pool', will register this Sunday its lowest price 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.

The maximum price will be 7.2 euros/MWh, registering between 9:00 p.m. and 10:00 p.m., while one hour, between 4:00 p.m. and 5:00 p.m., will be at zero euros/MWh, according to provisional data from the Market Operator. Ibérico de Energía (OMIE) collected by Europa Press.

Along with that hour of zero euros/MWh that the 'pool' will mark, other hours will also be recorded at practically those levels -0.43 euros/MWh and 0.01 euros/MWh-, between 12:00 and 16:00 and between 5:00 p.m. and 6:00 p.m. In total, five hours in which the price will be around 0.0 euros/MWh.

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 significant decline in the wholesale electricity market will be due, mainly, to the presence of a storm in the form of winds and storms that will boost the presence of renewables - especially wind - in the generation 'mix', 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.