The average price of electricity in the wholesale market for this coming Wednesday will be 212.44 euros per megawatt/hour (MWh), which represents a decrease of 6.06% compared to 226.14 euros on Tuesday.
This is the fifth consecutive day in which the price of electricity remains below the level of 230 euros/MWh, a level around which the price has managed to stabilize since last Friday.
In any case, the levels continue to mark very high records compared to what was paid just a year ago, when the price of electricity stood at 64.47 euros/MWh, that is, it is now 229.52% more expensive. However, compared to Wednesday of last week, the price fell by 19.42%.
According to data published by the Operator of the Iberian Energy Market (OMIE) collected by Europa Press, the maximum electricity price for this Wednesday will be between 8:00 p.m. and 9:00 p.m., with 249.3 euros/MWh, while the minimum, 180.28 euros/MWh, will be recorded between the 04.00 and 05.00 hours.
The prices of the ‘pool‘ have a direct impact on the regulated tariff –the so-called PVPC–, to which almost 11 million consumers in the country are covered, and serve as a reference for the other 17 million who have contracted their supply in the free market.
In fact, the National Commission of Markets and Competition (CNMC) has confirmed that in 2021, within the framework of the upward spiral of energy, around 1.25 million people they went from the PVPC to a rate in the free market at a fixed price.
Stabilization since the invasion
On February 24, when the Russian invasion of Ukraine began, the price of wholesale market it was at 205.6 euros/MWh and, since then, there has been a daily rise in the price that reached its peak on March 8, when the price reached an absolute record of 544.98 euros/MWh.
However, since March 12, the wholesale market price has remained around €250/MWh, although in the last five days it has continued to fall and has been below 230 euros.
Meeting with the electricians
The President of the Government, Pedro Sánchez, holds a meeting this morning, together with the Third Vice President and Minister for the Ecological Transition and the Demographic Challenge, Teresa Ribera, with the chief executives of the main energy companies, in the Moncloa Complex.
With this meeting, they seek to know the opinion of the first swords of the main electricity companies operating in Spain on the measures that would be most appropriate to contain the high prices of electricity, in order to cushion its impact on inflation, in households and in sectors with a more intensive consumption of energy .
Also, this meeting takes place in the prelude to the European Council on March 24 and 25, in which the possible measures to mitigate the high energy prices that affect the countries of the European Union will be put on the table.