The price of electricity will start 2022 at 122.63 euros per MWh, with a decrease of 12.9%

The maximum price of electricity for tomorrow, Saturday will be between 10 p.m. and 11 p.m., with 190.81 euros / MWh.

A lamp and the electricity bill

The average price of electricity on the wholesale market will drop tomorrow, January 1, 12.9% compared to today’s price, so that the year 2022 will start at 122.63 euros per megawatt / hour (MWh), according to provisional data published by the Iberian Energy Market Operator (OMIE) collected by Europa Press.

With this decline, the price of the ‘pool’ chains two days of consecutive declines after the fall of almost 30% that it has experienced this Friday.

Despite this, the cost of electricity in the wholesale market continues to skyrocket when compared with the records of the same day of the previous year, when the price stood at 42.51 euros / MWh. The increase this Saturday compared to January 1, 2021 is 188.5%, almost triple.

By time slots, the maximum price of electricity for tomorrow Saturday will be between 10 p.m. and 11 p.m., with 190.81 euros / MWh, While the minimum, of 70.05 euros / MWh, will be recorded between 10 a.m. and 11 a.m.

The prices of the ‘pool’ have a direct effect on the regulated tariff –the so-called PVPC–, to which almost 11 million consumers in the country are welcomed, and serves as a reference for the other 17 million who have contracted their supply in the free market .

Volatility

The rise in price in recent months in the electricity market is mainly explained by high gas prices in the markets and carbon dioxide (CO2) emission rights, at all-time highs this year.

December began marked by great volatility, with falls in the average of some days to around 100 euros / MWh and with certain rises that far exceeded the level of 200 and 300 euros / MWh.

Volatility has been maintained in the last week, with which the rise in electricity prices has runaway and the average monthly price for December has stood at 239.1 euros, that is, more than 39 euros than last October, the month with the most expensive average to date with 200 euros / MWh.