The average price of electricity in the wholesale market will break a new daily annual maximum this Friday, standing at 124.55 euros per megawatt hour (MWh).
Specifically, throughout the day all hours will be above the barrier of 100 euros/MWh, with a maximum of 147.22 euros/MWh between 08:00 and 09:00 and a minimum of 104.05 euros/MWh. MWh, which already occurred between 03:00 and 04:00, according to data from the Iberian Electricity Market Operator (OMIE).
This way, With this average of 124.55 euros/MWh on the day, the price in the wholesale electricity market beats the 120.37 euros/MWh that was set on August 29 at most for one day in 2024.
November is being characterized by a lower presence of wind generation compared to this month in other years. In addition, this week an unscheduled shutdown of the reactor at the Asco II plant was reported due to a problem in the alternator.
So far this month of November, the average price in the electricity market stands at 100 euros/MWh, compared to the 68.5 euros/MWh that it marked throughout last October.
This increase in the ‘pool’ will affect clients in the regulated market or PVPC, who are impacted by these daily price fluctuations in the market.
It should be remembered that 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 medium and long-term prices to avoid strong fluctuations, without losing short-term price references that encourage savings and efficient consumption.
This way, the proportion of linkage with the ‘pool’ price will be progressively reducedto incorporate the references of the futures markets, so that these represent 25% in 2024, 40% in 2025 and 55% from 2026.
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