The price will register the quota of 339.84 euros / MWh after a week of maximums and between 20 and 21, 375 euros / MWh will be paid.
The escalation in electricity prices seems to have no ceiling whatsoever. After a week where several records have been broken and the psychological barrier of 300 euros / MWh has been surpassed, on Monday another historical maximum will be reached in the market with a share that will reach the rate of 339.84 euros / MWh.
The time slot in which the cost will be highest will be between 8:00 p.m. and 9:00 p.m., when the maximum of 375 euros / MWh will be reached. Until a few weeks ago, the border that was aspired not to exceed was that of 300 euros / MWh, but it seems increasingly clear that that of 400 is getting closer and closer.
The minimum price of 267.99 euros / MWh will once again be at dawn, in this case between 4 and 5 hours, according to the data provided by the Iberian Energy Market Operator (OMIE).
Gas and renewables
The reasons for the price increase do not vary. The main cause is the increase in the cost of gas, which has a direct impact on combined cycle plants that need this raw material to produce energy and which are essential when renewable sources are insufficient. In recent days, wind and solar energy contribute less than expected.
These unprecedented peaks directly affect the 10.5 million households that have a regulated tariff, known as PVPC, while the impact on the rest of the population receiving the free market is much less.
This situation complicates the Government’s promise that Spaniards will pay an electricity bill similar to that of 2018 at the end of 2021 and it seems increasingly evident that families with a regulated rate will have to make a larger outlay despite the tax cuts and other measures.