Light spirals out of control to exceed 300 euros per megawatt for the first time in four months

Light spirals out of control to exceed 300 euros per megawatt for the first time in four months

The price of electricity exceeded 300 euros/MWH on Tuesday for the first time since March. / PHOTOLIA

The cheapest hour on Tuesday will be at dawn, with 123.55 euros/MWh


The price of electricity continues to soar and customers at the regulated rate will pay a cost on Tuesday not seen since last March. Putting the devices on Monday will cost 1.53% more than on Monday, a hike that pushed the price above 300 euros per megawatt hour (MWh). Specifically, this Tuesday, electricity will cost 303.07 euros MWh, according to provisional data from the Iberian Energy Market Operator (OMIE) collected by Europa Press.

March 8 is the date on which electricity reached an all-time high with 544.98 euros/MWh, a record set in the context of the upward spiral in gas prices due to the Russian invasion of Ukraine at the end of February. Since then, they had not returned to exceed 300 euros.

The “around the house” measures to save energy and reduce the electricity bill that are being promoted in Europe

The cheapest and most expensive hour of this Tuesday

Maximum price electricity for this July 12 will be recorded between 9:00 p.m. and 10:00 p.m., with 201.6 euros/MWh, while the
minimum for the day, 123.55 euros/MWh, it will be given between 04:00 and 05:00.

Hourly electricity rate for Tuesday July 12

  • 0.00 to 1.00

  • 1.00 to 2.00

  • 2.00 to 3.00

  • 3.00 to 4.00

  • 4.00 to 5.00

  • 5:00 to 6:00

  • 6.00 to 7.00

  • 7.00 to 8.00

  • 8.00 to 9.00

  • 9:00 a.m. to 10:00 a.m.

  • 10.00 to 11.00

  • 11.00 to 12.00

  • 12:00 p.m. to 1:00 p.m.

  • 1:00 p.m. to 2:00 p.m.

  • 2:00 p.m. to 3:00 p.m.

  • 3:00 p.m. to 4:00 p.m.

  • 4:00 p.m. to 5:00 p.m.

  • 17.00 to 18.00

  • 6:00 p.m. to 7:00 p.m.

  • 7:00 p.m. to 8:00 p.m.

  • 8:00 p.m. to 9:00 p.m.

  • 9:00 p.m. to 10:00 p.m.

  • 10:00 p.m. to 11:00 p.m.

  • 23.00 to 24.00

This price for PVPC customers is the result of adding the average auction price on the wholesale market to the compensation that demand will pay to combined cycle power plants for the application of the “Iberian exception” aimed at cap the price of gas for electricity generation.

At auction, the average price of electricity on the wholesale market – the so-called “pool” – amounts this Tuesday to 155.71 euros/MWh, approximately 2 euros less than the price on Monday ( €157.54/MWh).

Made with Flourish

To this ‘pool’ price is added the compensation of 147.36 euros/MWh to the gas companies which must be paid by the consumers who benefit from the measure, the consumers of the regulated tariff (PVPC) or those who, although being on the free market, they have an indexed rate.

With these prices, the electricity bill has become a concern for citizens and many consumers make sure to use the devices at the cheapest times to try to save and reduce costs.

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