The average wholesale price on Thursday will be 383.67 euros, although between 8:00 and 22:00 the mark of 400 euros will be exceeded.
New record of electricity price in the wholesale market. The average price is close to 400 euros per megawatt-hour on average, when marking this Thursday 383,67 euros, according to data from the Iberian Electricity Operator. Although for practical purposes, the megawatt-hour will be located for most of the day (between 8 and 22 hours) above this figure, between 400 and 409 euros per megawatt-hour, and it will be only at night when produce a reduction to the minimum price that will be 303 euros per megawatt-hour between 3 and 4 in the morning.
The last week has triggered prices that were in historical levels, so much so that the price of this Wednesday will be one hundred euros more expensive from just ten days ago (on December 12, the cost per megawatt-hour was 256.98 euros), multiplying by more than eight the records from a year ago (on December 23, 2020 it was at 46.3 euros per megawatt-hour). Last Thursday the average price of electricity broke the barrier of 300 euros per megawatt-hour for the first time and since then it has not dropped below that level, not even during the weekend when demand is lower.
Some unusual prices which are due to the very high price of natural gas in international markets, which started last week at around 120 euros per megawatt-hour and now stands at 174 euros. This is the main trigger for this end-of-year escalation, although we must add to it the high price of CO2 emission rights, also at historical highs (80 euros per ton), which has kept prices high throughout the year. In fact, both reasons lead to high prices throughout Europe, not just in Spain. Thus, in France the megawatt-hour will cost 416.44 euros this Thursday, and in Germany, 300.03 euros.
A record month
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December It started with high prices, but with great volatility (there were days when the price dropped to 100 euros per megawatt-hour and also figures above 200 euros), but it was from December 16 when, after settling in the level of 300 euros, has not stopped becoming more expensive at a rate of 20 euros a day in many cases. This causes that almost in all probability December ends as the month with the average wholesale price highest in history to date since the average monthly price already exceeds the 250 euros per megawatt-hour, well ahead of the 200 euros in October, the month with the most expensive average so far.
These prices have a direct effect on the regulated tariff -the so-called PVPC-, to which almost 11 million consumers are welcomed, and serves as a reference for the other 17 million that have their supply contracted in the free market. The price of energy is one of the four parts of the receipt, together with charges and tolls (regulated prices) and taxes. Although, in recent months charges have been reduced by 96% and taxes as well (VAT is 10%, instead of 21%, and the Special Electricity Tax at 0.5%, in instead of the usual 5.11%, there is also 7% to the generation of electricity is suspended). The question is what will happen as of JanuaryIf these same prices are maintained, because although the Government has extended the tax cut, it plans to reduce the reduction in charges from the current 96% to 30.9%.
Reference-www.elperiodico.com