[Economics] The price of electricity rises 28% and will be paid at 167.67 euros per megawatt hour

[MussicOnPro!]

The average price of electricity in the wholesale market (pool) has been set for November 8, at 167.67 euros per megawatt hour (MWh), which represents an increase of almost 28% with respect to the price set for this Sunday, thus breaking with three consecutive days of falls. In addition, the price for tomorrow Monday is 84% higher than the previous Monday, and almost quadruples the amount that the pool marked during the second Monday of November last year (45.62 euros).

Despite this rise, the price of electricity remains below the barrier of 200 euros per megawatt hour, a value that was exceeded in almost 70% of the days of October and that has not yet been exceeded so far of November. Thus, the average price of electricity on the wholesale market during the first eight days of November was 148.91 euros per megawatt hour, more than 50 euros below the October average and almost eight euros less than the average price of September.

 

According to data from the Iberian Electricity Market operator (OMIE), the maximum price on November 8 will be recorded between 9:00 p.m. and 10:00 p.m., when it will be 203 euros per megawatt hour, while the minimum will occur between 5:00 a.m. and 10:00 p.m. 6:00 am (139.36 euros).

The prices registered in the wholesale market have a direct impact on the regulated tariff or PVPC, to which almost 11 million consumers in Spain are welcomed, and serves as a reference for the other 17 million who contract their supply in the free market.

Behind the price increase are high gas prices in international markets and carbon dioxide emission rights, which during 2021 have marked historical highs month after month.

LINK: https://elpais.com/economia/2021-11-07/el-precio-de-la-luz-sube-un-28-y-se-pagara-manana-a-16767-eurosmwh.html