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Electricity drops this Sunday to €3.97/MWh and will remain at zero euros until 6 p.m.

MADRID, 2 Mar.

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Electricity drops this Sunday to €3.97/MWh and will remain at zero euros until 6 p.m.

MADRID, 2 Mar. (EUROPA PRESS) -

The price of the wholesale electricity market, the so-called 'pool', will drop this Sunday to 3.97 euros per megawatt hour (MWh) on average and will remain at zero euros practically every hour until 6:00 p.m., according to provisional data from the Operator of the Iberian Energy Market (OMIE).

Specifically, from midnight until 6 p.m. the price will be zero euros for fourteen hours. Only a price of 0.1 euros/MWh will be recorded at certain specific times.

The highest price will be recorded between 9:00 p.m. to 10:00 p.m., at 30.6 euros/MWh, according to OMIE data.

For the tenth consecutive day, the price of electricity remains below 10 euros on average, although this price is not transferred to the bill exactly, since there are fixed costs for the electricity consumer, due to tolls, charges and system adjustments. .

This significant decrease since February 22 in the wholesale electricity market is mainly due to the presence of an Atlantic front that causes strong gusts of wind and which, in turn, boosts the presence of renewables - especially wind - in the generation 'mix', as well as the drop in demand with the arrival of the weekend compared to weekdays.

The 'pool' does not exactly represent the final amount in the price of electricity for a consumer covered by the regulated tariff, since with the entry in 2024 a new method of calculating the PVPC was adopted, which incorporates a basket of prices at medium and long term to avoid strong fluctuations, without losing short-term price references that encourage savings and efficient consumption.

Specifically, the proportion of linkage with the pool price will be progressively reduced, to incorporate the references of the futures markets, so that these represent 25% in 2024, 40% in 2025 and 55% at from 2026.