However, the average price of electricity for this Wednesday will be 8.4% more expensive compared to a year ago.
The average price of electricity in the wholesale market will plunge by 24% on Wednesday compared to this tuesdaywhich resume the declines, to fall below €90 per megawatt (MWh) and mark a new annual minimum.
However, the average price of electricity for this Wednesday compared to a year ago will be 8.4% more expensive than the 78.58 euros/MWh of 20 April 2021.
Specifically, the average price of the ‘pool’ for this Wednesday will be 85.19 euros/MWh, the lowest level since October 31 last year, after falling almost 27 euros cheaper compared to 112.12 euros/MWh today, according to data published by the Iberian Energy Market Operator (OMIE).
Relief from the gas price
This drop in wholesale market prices over the past week, which has recorded its lowest readings to date in 2022, coincides with a fall in the price of natural gas and a greater contribution from renewables to generation.
In concrete terms, the price of natural gas in the Mibgas is this Tuesday at 64.66 euros/MWh, despite the fact that it has become 17.3% more expensive compared to the 55 euros/MWh against which it was exchanged yesterday. In any case, these prices are far from those of around 200 euros/MWh, which they rose to in March after the outbreak of the war in Ukraine.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
