The price of light in the wholesale market December will start at all-time highs after closing November with the second most expensive bill in history. Specifically, the pool will reach 247.21 euros per megawatt hour (MWh) this Wednesday, day 1, its third highest price since there are records.
In this way, the cost of electricity chains its fourteenth consecutive day above the level of 200 euros / MWh. Only the price of electricity for this Wednesday exceeds the record of October 7, which still holds the record with 288.53 euros / MWh, and that of this Tuesday, with the price of electricity at 274.56 euros / MWh. However, the price is reduced by 9.95% compared to the mark this Tuesday, about 27 euros.
According to data from the Iberian Electricity Market Operator (OMIE), the maximum price of electricity for this Wednesday will be between 00:00 and 01:00 hours, exceeding 289 euros / MWh, while the minimum price will be registered between 23:00 and 24:00, with 192.81 euros / MWh.
This is explained by the 90% reduction in the charges of the electrical system, which have altered the hourly sections -punta, flat and valley- that came into effect on June 1, causing them to have been reduced to the minimum the differences between the most expensive and cheapest sections to put the appliances. In this way, early mornings, weekends and holidays, when ‘off-peak’ prevails, are no longer the cheapest times to consume electricity.
Regarding the same day of the previous year, the price of this December 1 will multiply by almost five the 50.36 euros / MWh in which it was located on the same day in 2020. This dynamic has been happening since the beginning of summer due to high gas prices in the markets and carbon dioxide emission rights (CO2), which have been at all-time highs this year since then.
The November bill is the second most expensive in history
The electricity bill of an average user with the regulated rate -the so-called PVPC- It has been placed this November at 115.18 euros, 68.1% above the 68.50 euros for the same month last year, thus being the second most expensive bill in history after last October, according to data from Facua-Consumidores en Acción.
In this way, the association considers that the electricity bill for December would have to be negative for the promise of the President of the Government, Pedro Sánchez, to be fulfilled, that this year consumers will pay the same as in 2018 once the CPI has been discounted. The experts consulted by RTVE also consider that “it will be impossible” to achieve this goal, although the Executive suggests that the bill will end in 2021 at the same levels as 2018 for “all Spanish households”, taking into account that “some will pay more and others less”, in reference to those who are covered by the regulated tariff or the free market -which are not influenced by the prices of the wholesale market-.
Precisely the wholesale market also ended November with an average price of 193.4 euros / MWh, thus ranking as the second most expensive month in history, only behind last October, when 200 euros / MWh were reached. This price of the wholesale electricity market in this November is 361% more expensive than the 41.94 euros / MWh of the same month last year.