Light Goes Down For The Third Day In A Row

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The light goes down for the third day in a row after marking its all-time high. The price will be 97.76 euros / MWh, a figure 9.9% higher than last Monday.

The average daily price of electricity in the wholesale market will drop 2.74% today compared to this Sunday, so it falls for the third consecutive day, and will fall below 100 euros per megawatt hour (MWH). Specifically, the price for this Monday will be 97.76 euros / MWh, which will, however, be 9.94% more than the same day of the previous week, on Monday, August 16, when the price was at 88.92 euros / MWh.

The electricity pool will register for this Monday a minimum of 85.84 euros / MWh -between 04.00 and 05.00 hours-, while the maximum hours will be between 21.00 and 22.00, with 115.54 euros / MWh, according to OMIE data. With respect to a year ago, the average level for today multiplies by a little more than three the more than 32 euros / MWh that was registered in 2020 at this time.

So far in August, the ‘pool’ has smashed all the records seen so far, pointing, when it has already exceeded its equator, at an average price for the month above 100 euros / MWh. The first five days of last week marked a maximum figure after another, with that historical level, until now, on Friday, August 13, of an average daily price of 117.29 euros / MWh.

Last week’s upward spiral led the political debate to focus on how to lower the price of electricity. In fact, the Government opened the door to create a public energy company, as it has been asking for a long time from its partner in the Executive.

This context of increases in the electricity pool is marked by the increase in the prices of CO2 and gas rights, to which the increase in demand due to the heat wave has been added. Specifically, CO2 emission rights have become more expensive to exceed 55 euros per tonne so far in August, when at the beginning of the year they were trading at around 33 euros. Meanwhile, the price of natural gas is around 42 euros per MWh.

The fluctuations in the daily price affect consumers covered by the regulated tariff, just over 10 million, while those in the free market -17 million- are exempt, since they have a price agreed with your company.

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