Light rises to 171.91 euros / MWh but is contained after the most expensive October in history

A certain calm in the gas markets due to Russia’s promise to increase gas delivery to Europe, relaxes the electricity price.

An electricity bill in a file image.

The average daily price of electricity in the wholesale market will rise again this Thursday for the fourth consecutive day, specifically by 11.4%, up to 171.91 euros per megawatt hour (MWh), although it is still below 200 euros.

This is the seventh day in which the price of electricity is below this threshold, since last Friday ended a streak of 16 days in a row above 200 euros, according to data from OMIE.

Coinciding with the All Saints bridge, when there was a lower demand for being a holiday, the price of electricity plummeted to 79 euros on Sunday, minimum since August, and 91 euros on Monday. These data contrast with the 288.5 euros registered on October 7, an absolute record so far.

Despite the contention of the past days, light is still at very high levels compared to the rest of the historical series. Specifically, just a year ago it was trading at 38.8 euros, so the price increase in the last year is 343%, that is, more than four times more expensive. Compared to last week, the price falls 16%.

The highest price this Thursday will be between 4:00 p.m. and 5:00 p.m., when it will reach 199.64 euros / MWh, while the lowest will be recorded between 3:00 a.m. and 4:00 a.m., when it will trade at 143,06 euros / MWh.

The average stood at the end of October at 200.06 euros / MWh, that is, 44 euros above the September average (156.14 euros / MWh), thus being the most expensive month in history so far. With the first three data for November, the average would be 140.8 euros / MWh.

Government Promise

According to an analysis of Facua-Consumers in Action, the average user’s receipt reached 120.68 euros in October, 86.8% above the 64.61 euros in the same month last year.

So far this year, the average user’s bill has reached an average of 86.02 euros, which represents an increase of 11.5% compared to the 77.18 euros for all of 2018.

The Government has promised that in 2021 citizens will pay the same for electricity that was paid in 2018, a goal that the consumer organization believes “highly unlikely to be achieved.”

More expensive than in France or Germany

According to the latest barometer carried out by the Association of Companies with High Energy Consumption (AEGE), the average price of the daily market in Spain is a 15.9% higher than in France and 43.3% more than in Germany.

Considering the evolution of the daily market in 2021 and the future price quotes until the end of the year, the estimated average price of the Spanish electricity market for this year is 103.73 euros / MWh, 16.7% more expensive than that of the German market and 3.3% more expensive than the French market.

In addition, for the electro-intensive industry Considering the measures approved in its Statute, a price is estimated at the end of the year in Spain of 111.38 euros / MWh, compared to 47.74 euros in France and 88.87 euros in Germany.