Electricity prices in Spain hit highest level since mid-December
The cold snap which has swept across Spain has pushed prices up to 144.92 euros/MWH
The average price of electricity in the wholesale market reached 144.92 euros per megawatt hour (MWh) this Monday. This number reflects the highest daily level since December 13, 2024, according to the Iberian Energy Market Operator (OMIE).The electricity price is subject to daily fluctuations in Spain. The price today will reach a maximum of 170 euros/MWh between 9pm and 10pm, while the minimum will be 114.41 euros/MWh from 3am to 4am.
The increase in the price has occurred most notably during the cold snap that Spain has had over the last couple of weeks. The high electricity demand of such a period is not offset by the low contributions of wind and solar energy at this time of the year.
The peak in electricity prices, as recorded on Monday, are evidence of the pressure on the electricity system in Spain in the face of a high winter demand and the lower availability of renewable energy.
The trend in prices for electricity in 2025 is likely to remain uncertain for the time being. However, the wholesale market closed out the year of 2024 with an average price of 63.04 euros/MWh, which exhibts a 28% decrease compared to 2023.
However, the increase in electricity prices for November and December of 2024 raises doubts about the cost for the consumer in the coming year. For more information about electricity prices and help with switching energy supplier for your Spanish home, contact Spanish Energy:
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