The price of electricity rises by 35% and exceeds 60 euros/MWh for the first time since March

he Average price of electricity In the wholesale market, it recorded a daily increase of 35% compared to Wednesday, May 22. It will be located in 60.45 euros per megawatt-hour, It exceeded 60 euros for the first time since last March 18, before prices dropped between the third and fourth months of the year. According to data published by electricity market operator OMIE, the electricity price will reach its maximum for the day between 11:00 p.m. and 12:00 p.m. (92.30 EUR/MWh), and its minimum (26.10 EUR/MWh) between 4 :00 pm. pm and 5:00 pm

As of today, the average electricity price in May was €31.97 More than double what was recorded in April (13.66 €/MWh)This is the lowest since records exist. It will also exceed €20.27/MWh for March. It will still be far from the average of 39.99 euros recorded in February, the month in which very low average daily prices began to be recorded, which did not exceed double digits in the last week.

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Since May 20 No zero or negative prices were recorded At any part of the day, unlike April, when negative prices were first observed in the Spanish market. In the second half of May, prices returned to normal, with electricity prices expected to rise heading into the summer, as a decline in renewable energy generation and an increase in consumption due to the use of air conditioning indicate higher costs.

tomorrow, Spain will have a higher electricity price than France, which has recorded lower prices in recent days and will reach an average of 48.43 euros/MWh this Thursday. In Germany and Italy, the price will significantly exceed the Spanish price, at €93.87/MWh and €102.38/MWh, respectively. In the UK, the price will be £63.32/MWh (€74.11/MWh).

These price increases are due to the declining role of renewable energies in the energy mix. In April, renewable energies generated 13,515 GWh, 21% more, reaching a market share of 64.6%. For the first time in history, three technologies of this type led the Spanish “mix”: winds (by 22.2%), Hydraulic (19.7%) and Photovoltaic solar energy (18.8%).

During April, total national demand rose to 18,938 gigawatt-hours, This represents a 4.2% increase from April 2023. However, with data adjusted for the calendar and temperatures, the increase will be limited to 0.9% more. According to the latest provisional data, Wind energy maintained first place in the Spanish energy mix for the seventh month in a rowWith an output of 4,643 gigawatt-hours, demonstrating its consolidation as the backbone of renewable electricity generation in the country.