The price of electricity in the wholesale market (pool) is has plummeted again this Monday, specifically 49%, to stand at 96.08 euros per megawatt hour (MWh), almost 95 euros less than yesterday, in which it will be its lowest price since last November 1.
After this decline, the fourth in a row, the price of electricity will be 71% cheaper than last Monday, although it is almost four times the value that the pool marked just a year ago (26.51 euros). Thus, electricity will mark its lowest price on Monday since November 1, when it reached 91.2 euros / MWh.
In addition, it is also below 200 euros / MWh for the second consecutive day, a value that was reached in almost 70% of the days of October, in 45% of the days of November and in 90% of the days of December.
By time bands, the maximum price for today will be registered between 6:00 p.m. and 7:00 p.m. with 207.10 euros / MWh, while the minimum will be 2.67 euros / MWh between 2:00 and 6:00 in the morning.
So far this month, the average price of electricity stands at 251.38 euros / MWh, 30% more than the average registered during the month of November (193.43 euros / MWh), and 26% above that of October (200.06 euros / MWh), the most expensive month to date.
If current December values are maintained, 2021 will close with an average price above 110 euros / MWh, more than triple that of last year, the cheapest in the last 17 years thanks to the fall in demand and prices that caused the pandemic.
The prices of the wholesale market have a direct effect on the regulated tariff or PVPC, to which they are covered. almost 11 million consumers in Spain, and it serves as a reference for the other 17 million that contract their supply in the free market.
To cushion the impact that rising electricity prices are having on consumers, The Government recently approved the extension of the tax reduction on taxes levied on electricity bills during the first four months of 2022.
The price escalation that affects a large part of Europe is due, among other factors, to the rising cost of gas in international markets, which is used in combined cycle power plants and that mark the market price in most hours, and the increase in the value of carbon dioxide (CO2) emission rights.
Source: Vozpópuli by www.vozpopuli.com.
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