It is due to a drop of more than 10% in the price of gas a day after the Russian president announced the expansion of gas supply to Europe.
The average daily price of electricity in the wholesale market will collapse this Saturday 29.18%, up to 124.53 euros per megawatt hour (MWh), this price being the lowest registered in almost a month.
The reason lies in the fall, for the first time in months, in the price of gas on the European benchmark market, the Dutch TTF, more than 10% in just one day. The statements of Russian President Vladimir Putin of starting to inject gas into the recently inaugurated gas pipeline NordStream 2 which comes directly to Germany, has relaxed the accumulated tensions.
In addition, this new figure means returning to the levels registered at the end of August, around 120 euros. Since then, the light has been located above that level, with the exception of the 111.6 euros reached on October 3.
This Friday it also fell for the first time in 16 days from 200 euros, in parallel with the slowdown in the rate of gas rise, which in the last two weeks became more expensive on average by 5.6%, compared to the rise of 30% registered the previous fortnight.
Despite this scenario of decreases in the price of electricity in the wholesale market, electricity is still at very high levels compared to the rest of the historical series. Specific, just a year ago it was trading at 41.58 euros, so the price increase in the last year is 200%, that is, three times more expensive.
In addition, in the absence of knowing the price of this Sunday, the last day of the month, the average price of electricity in October will close above 200 euros, that is, more than 40 euros above the average for September (156, 14 euros / MWh), the most expensive month in history so far.
The highest price this Saturday will be between 8:00 p.m. and 9:00 p.m., when it will reach 192.07 euros / MWh, while the lowest will be registered between 4:00 a.m. and 5:00 a.m., when it will trade at 58.79 euros / MWh.