The price of electricity in the wholesale market (pool) will drop this Wednesday by 1.78% compared to this Tuesday and will be 254.03 euros per megawatt hour (MWh) on a daily average, according to data from the Iberian Market Operator.
Thus, the price of electricity will chain its second downward session, after reach its annual maximum last Sunday, when the average price was 277.78 euros/MWh, three days after the Russian invasion of Ukraine began.
The most expensive slot will be between 8:00 and 9:00, when it will cost 305 euros/MWh; while the cheapest will be between 3:00 p.m. and 4:00 p.m., then it will have a price of 204.15 euros/MWh.
Compared to the first Wednesday of March last year, when electricity cost an average of 53.24 euros/MWh, the price will practically quintuple the one that was marked then.
In the rest of the European markets, the average price will be 278.78 euros/MWh in Germany; in Italy, 274.63 euros/MWh; in France, 274.02 euros/MWh; in the United Kingdom, it will cost 258 euros/MWh (215.41 pounds/MWh) and in Portugal, it will cost 254.03 euros/MWh.
The President of the Government, Pedro Sánchez, insisted on Monday night in an interview on TVE that the gas supply in Spain is “guaranteed”despite the war in Ukraine, although it certified its commitment to European “energy autonomy”.