These are the cheapest hours for electricity on Sunday, May 15

The price of electricity in the regulated market will drop 33.

These are the cheapest hours for electricity on Sunday, May 15

The price of electricity in the regulated market will drop 33.58% this Sunday compared to this Saturday, so it will stand at 127 euros/MWh, remaining below the threshold of 200.

Specifically, the average price of the 'pool' for this Sunday is 127.23 euros/MWh, according to data published by the Iberian Energy Market Operator (OMIE) and collected by EP.

The maximum price of electricity for this May 15 will be between 9:00 p.m. and 10:00 p.m., with 226.18 euros/MWh, while the minimum for the day, 1.03 euros/MWh, will be registered between the 4:00 p.m. and 5:00 p.m.

Compared to a year ago, the average price of electricity for this Sunday will be 194.79% more expensive than the 43.16 euros/MWh of May 15, 2021.

The prices of the 'pool' have a direct impact on the regulated rate --the so-called PVPC--, to which almost 11 million households in the country are covered, and serve as a reference for the other 17 million who have contracted their supply in the free market.

In fact, the National Commission of Markets and Competition (CNMC) has verified that in 2021, in the framework of the upward spiral of energy, around 1.25 million people switched from the PVPC to a rate in the free market at a fixed price.

The Official State Gazette (BOE) published this Saturday the Royal Decree-Law establishing the mechanism to limit the price of gas for electricity generation to an average of 48.8 euros per megawatt/hour (MWh) during a period of twelve months, thus covering the next winter, a period in which energy prices are more expensive.

After its approval in the Council of Ministers on Friday, the Third Vice President of the Government and Minister for the Ecological Transition, Teresa Ribera, pointed out that once the measure comes into force this Saturday and at the expense of the European Commission formally adopting support for the standard , which could be delayed up to "about two weeks" - will mean an immediate improvement for 37% of domestic consumers and 70% for industrial consumers.

In this regard, sources from the Ministry for the Ecological Transition specified that the mechanism, despite its publication as a Royal Decree-Law, will thus remain pending a formal decision from Brussels and to be initialed by an order from the minister for its application.


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