This Wednesday, December 25, the average price of electricity in the wholesale market (‘pool’) has experienced a rise of 36.7%, standing at 100.94 euros per megawatt hour (MWh), according to data from the Iberian Energy Market Operator (OMIE). This increase directly affects consumers in the regulated market(PVPC), who depend on these daily fluctuations.
Hourly peaks and year-on-year comparison
The highest price of the day will be recorded between 21:00 and 22:00 hours, with a cost of 141.08 euros/MWh, while the minimum, of 75.99 euros/MWh, took place between 4:00 and 5:00 in the morning. Compared to December 25, 2023, the average price of electricity has risen by 60%, evidencing the continuing impact on households and businesses covered by the regulated market. This level has not been reached since December 20, after several days of stability.
Changes in the PVPC: a more stable rate
From 2024, the PVPC has adopted a new calculation method that combines short, medium and long term prices. This new formula seeks to reduce dependence on the pool price, avoiding extreme oscillations. The proportion of the pool price in the regulated tariff will be 25% in 2024, increasing to 40% in 2025 and 55% as of 2026, when integrating futures market prices. This transition seeks to encourage savings and efficient consumption.
Impact on consumers
In addition to pool prices, there are fixed costs for tolls, charges and system adjustments, which directly affect users’ bills. These increases make the implementation of energy efficiency measures in households more relevant.
