Check at what times of the day the price of electricity will increase and decrease today
The average price of electricity in the wholesale market will rise by 5.41% this Tuesday, April 5, and will exceed the level of €250/MWh for the second consecutive day.
Specifically, the average pool price for this Tuesday will be €265.02/MWh, €13.61 more expensive than the €251.41/MWh this Monday, according to data published by the Iberian Market Operator for Energy (Ome).
The maximum price of electricity this April 5 will be between 8:00 p.m. and 9:00 p.m., with €300.97/MWh, while the minimum, €205.5/MWh, will be registered between 02:00 and 03:00 hours.
Compared to just a year ago, the pool price for this Tuesday will be 494.88% higher than the 44.55 euros/MWh of April 5, 2021.
The prices of the ‘pool’ have a direct impact on the regulated rate –the so-called PVPC–, to which almost 11 million households in the country are covered, and serve as a reference for the other 17 million who have contracted their supply in the free market.
In fact, the National Commission of Markets and Competition (CNMC) has verified that in 2021, in the framework of the upward spiral of energy, around 1.25 million people switched from the PVPC to a rate in the free market at a fixed price.
The price of electricity per hour
Gas cap of 30 euros
The governments of Spain and Portugal have submitted a preliminary proposal to the European Commission to establish a reference price for gas of 30 euros per megawatt in order to lower the price of electricity.
The Third Vice President and Minister of Ecological Transition, Teresa Ribera, has made it clear that it is a joint proposal formulated by both governments and subject to negotiation with the European authorities.
In the event that the proposal is accepted, Ribera has predicted that the price of electricity may be limited “in three or four weeks”, for which he has indicated that “you have to be patient” because it is necessary that in this time “the agrees’ with the joint proposal and that the ‘technical concerns of proper functioning that may exist are well reflected’.
If it goes ahead, the proposal would have repercussions on pool prices due to its impact, among other issues, on the sales offers made daily in the wholesale market by combined cycle plants, which generate electricity with gas.
time slots
The prices of the ‘pool’ have a direct impact on the regulated rate –the so-called PVPC–, to which almost 11 million consumers in the country are covered, and serve as a reference for the other 17 million who have contracted their supply in the free market.
As of June 1, three different time slots were established to motivate energy consumption at times of lower demand. These three sections are known as valley, plain and point. The off-peak period is the cheapest and runs between 00:00 and 08:00. The flat is the intermediate price period and covers the following hours: 08:00 – 10:00, 14:00 – 18:00, 22:00 – 00:00. Finally, we find the peak section, the most expensive of all, which runs from 10:00 a.m. to 2:00 p.m. and from 6:00 p.m. to 10:00 p.m.
The Government has extended the reductions of the two taxes included in the invoice, VAT and electricity, and electricity generation until April 30, 2022. A measure to try to lower the price of electricity. However, as can be seen, the price of this continues to increase and affect the pockets of consumers due to the increase in gas prices.
#Price #electricity #expensive #cheapest #hours #April