These are the cheapest hours of electricity this Tuesday

The average price of electricity in the wholesale market will rise 2.

These are the cheapest hours of electricity this Tuesday

The average price of electricity in the wholesale market will rise 2.1% this Tuesday compared to Monday's price, once again approaching the level of 200 euros per megawatt/hour (MWh).

Specifically, the average price of the 'pool' for tomorrow will be 199.36 euros/MWh, compared to 195.23 euros today, according to data published by the Iberian Energy Market Operator (OMIE) and collected by Europe Press.

The maximum electricity price for this Tuesday will be between 10:00 p.m. and 11:00 p.m., with 265.88 euros/MWh, while the minimum for the day, of 160.99 euros/MWh, will be recorded between 3:00 p.m. and 4:00 p.m. hours.

Compared to a year ago, the average price of electricity for this Tuesday is 159.5% more expensive than the 76.82 euros/MWh of May 17, 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.


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