Madrid (EFE).- The price of electricity will drop tomorrow, Tuesday, by 5% to 130 euros per megawatt hour (MWh), which will make January the month with the cheapest electricity since May 2021, according to with the results of the auction held in the wholesale market.
With an average of 70.8 euros/MWh, January will register the lowest price in the last 20 months, specifically since May 2021, when electricity reached an average of 66.9 euros/MWh.
The final average price for tomorrow is the result of adding, to the 127.1 euros/MWh registered in the wholesale market, the provisional adjustment that the beneficiaries of the gas cap have to pay to compensate the plants that use this material to generate electricity, which will be 2.7 euros.
Without the so-called “Iberian mechanism”, which limits the price of natural gas for electricity generation, the wholesale price for tomorrow would be 146.3 euros/MWh, that is, about 16 euros higher, according to the data from the Iberian Electricity Market Operator (OMIE) and the Iberian Gas Market (Mibgas).
In this calculation, the new gas cap of 45 euros is already applied, which will be in force throughout January.
By time slots, and excluding the adjustment, electricity will reach its highest price between 7:00 p.m. and 8:00 p.m., with 187.4 euros/MWh, and its lowest, between 2:00 a.m. and 3:00 a.m. , when its price will be 99 euros/MWh.
After this decrease, the price of electricity for tomorrow will be about 41% lower than that of a year ago, when it stood at 222 euros/MWh, and will be at lower levels than those registered in most neighboring countries. , even without the application of the gas cap, with the exception of Germany.
Thus, in Italy the average price will be 162 euros/MWh; in France, 160 euros/MWh; in Germany, 117.3 euros/MWh, and in the United Kingdom, 130.2 pounds/MWh (about 148 euros at current exchange rates).
