the Average price of electricity On Friday it will be just €5.47 per megawatt-hour (MWh), the cheapest since February 2021, according to data from OMIE, director of the wholesale market. Between 4 and 6 in the morning the price will be 0.57 euros per MWh.
This €5.47 is the result of subtracting compensation from the average auction price (€6.02) of gas companies (€0.55) for the so-called ‘Iberian exception’, a mechanism that sets the price of a megawatt hour for gas used at €45. to generate electricity.
Just a year ago, the average price was €200.68 per MWh. The average for December 2021 was €239.16, while the average for this month was €97.77 (without Saturday data), 144% lower.
Friday’s price drop responds to several factors, such as milder temperatures, a greater share of renewable generation (particularly wind power) and a sharp drop in demand, both industrial and domestic due to the Christmas holidays.