Non-stop. The price of electricity in the wholesale market (pool) stood this Sunday, March 6, at 379.03 euros per megawatt hour (MWh). This increase of more than 3% compared to the value set for Saturday is the second highest price since records exist, despite being a holiday in which activity is much lower than on weekdays.
According to the data from the Operator of the Iberian Electricity Market (OMIE), the highest price will be recorded in the time slot between 9 and 10 at night, which will be at 470.01 euros / MWh. The minimum 334.21 euros / MWh will be between 3 and 4 in the morning.
84% more since the war began
Following this new rise, which is taking place in the midst of Russia’s military offensive on Ukraine, the price of electricity will more than eight times the amount recorded a year ago, when it was paid at 45.07 euros / MWh, and is 84% higher than when the war began, on February 24th.
One of the components that contributes most to this take-off is the escalation that gas has registered in international markets and that generally marks the price in the wholesale market, as it is the last source that covers the demand.
Faced with this rising price, the government has decided to extend measures that try to curb the impact of the rise in the wholesale market on the bill paid by users.
The discount is extended until June 30 good social electric 60% for vulnerable groups and 70% for severely vulnerable groups, as well as tax rebates on the receipt (Electricity VAT of 10%, tax suspension of 7% on the value of production and special tax on electricity of 0.5%). It will also extend to date other measures in force, such as the temporary reduction of extraordinary profit obtained by non-emitting power plants, which ended on March 31.