El price of electricity in Spain The wholesale electricity market has seen several consecutive days of very low prices, averaging between 5 and 10 euros per megawatt hour (MWh). For households on indexed tariffs or the regulated PVPC tariff, knowing these figures, and especially when the lowest and highest prices occur, has become almost a daily routine.
Although data from the Iberian Energy Market Operator (OMIE) shows negative prices and values ​​close to zero While electricity is available during much of the daytime, this doesn't mean it's free. The final bill includes other regulated charges such as tolls, fees, and taxes, which increase the actual cost to the consumer.
A few days marked by exceptionally low prices
During the last days of March and the beginning of April, the average daily price of electricity It has remained at very low levels. There are days with averages of €0,18/MWh on Sunday, around 5 €/MWh and 5,15 €/MWh at the beginning of April, and somewhat higher but still contained values ​​of 7,55 €/MWh and 10,58 €/MWh on other working days.
These amounts reflect the cost of energy on the wholesale market and are influenced by factors such as High contribution from renewables, moderate demand This is typical of spring and reflects the behavior of other European electrical systems. Compared to other periods of high voltage in recent years, this is a very favorable scenario for small consumers.
In this context, a clear pattern is repeated: Cheaper hours are concentrated in the middle of the day, often with negative prices, while the most expensive ones are clustered around the night, especially between 21:00 p.m. and 22:00 p.m., when domestic demand increases.
Hourly electricity prices in recent days
The hourly data published by OMIE confirms that the electricity price behavior It follows a very similar pattern day after day, with prolonged dips in the middle of the day and peaks concentrated in the evening. Below is a summary of some of the main data points collected over several consecutive days.
On a very atypical Sunday, the market It set an average price of around €0,18/MWh, with up to 12 hours between 8:00 and 20:00 below €1/MWhOn that day, sections were recorded that were close to... -10 €/MWh, such as the one that runs from 15:00 PM to 17:00 PM, while the daily maximum barely reached €12,52/MWh between 21:00 PM and 22:00 PM.
The next day, Monday, the situation changed somewhat: The average price was €10,58/MWh And the market experienced a stark contrast between midday and nighttime. Among the Between 10:00 and 18:00 there were almost continuous negative prices, with a minimum of -€1,88/MWh from 15:00 p.m. to 16:00 p.m.However, the section of From 21:00 PM to 22:00 PM it spiked to €64,02/MWhconfiguring the most expensive peak of those days.
On another of the working days analyzed, the The daily average was €7,55/MWhAgain, the start of the day saw prices fluctuate between €5 and €10/MWh during the early morning hours, giving way to a slight increase between 7:00 and 9:00Then a large valley opened up with prices below zero that lasted until 19:00 PM. The cheapest point occurred between 15:00 and 16:00, with -€2,99/MWh, while the daily high was again repeated at 21:00 to 22:00, with €47,11/MWh.
At the beginning of April, the very subdued values ​​continued. On a reference day, the wholesale market registered a average price of €5,15/MWhPrices remained between €5 and €7/MWh during the early morning hours, with the first morning peak centered around... 7:00-8:00 y 20:00-21:00and they were reached eight sections with negative prices throughout the morning and afternoon. In this case, the The daily maximum was €35,02/MWh in the 21:00 PM to 22:00 PM time slot.
On another day, the wholesale operator published a average electricity price of €5/MWhThe cheapest hours were again between 15:00 and 17:00, with -€5/MWhAnd prices below zero extended for much of the period between 10:00 and 18:00. The most expensive spot was once again found from 21:00 p.m. to 22:00 p.m., with €35,01/MWhmaking it clear that this is the range to avoid for intensive consumption.
Cheaper hours and more expensive hours: recurring patterns
Analyzing these consecutive days together, one observes a very clear pattern in hourly priceThe early morning hours, between midnight and 6:00, usually show moderate prices, almost always in a range of between 4 and 11 €/MWh, without major shocks except at very specific times.
The first spike of the day usually occurs in the interval from 7:00 to 9:00This is when a significant portion of residential consumption is concentrated and economic activity resumes. In this period, prices have been seen to exceed [amount missing]. € 17 / MWh on some days, although during this analyzed period they have also remained far from the maximum levels reached at night.
La large window of cheap hours It opens from mid-morning and lasts for a good part of the afternoon. Between 10:00 and 18:00 Numerous periods with negative values ​​have been repeated, both on weekdays and weekends, with minimums reaching -5 €/MWh and even close to -10 €/MWh During peak hours. This is the time when it's most beneficial to plan the use of high-consumption appliances.
The second daily peak usually occurs between 20:00 and 22:00...coinciding with the return home, turning on the lights, and cooking dinner. On all the days analyzed, the The 9pm to 10pm period was the most expensive, with values ​​that fluctuate depending on the day between €12,52/MWh, €35/MWh, €47,11/MWh and up to €64,02/MWhIn other words, each unit of energy is much more expensive at that moment.
This scheme of valleys at midday and peaks at nightfall It is closely linked to the contribution of renewable generation, especially solar photovoltaics, which injects a large amount of energy during peak hours and reduces the need for more expensive technologies, while at sunset the system resorts to sources with higher costs.
SPOT price, PVPC tariff and final cost on the bill
All these OMIE references correspond to the wholesale market SPOT priceThat is, the result of the hourly auction where supply and demand for electricity are matched on the Iberian Peninsula. From this price signal, among other elements, the hourly cost of the regulated PVPC tariff is constructed.
However, the The domestic consumer does not directly pay the SPOT priceThe bill includes various regulated charges, such as access tolls, electricity system fees, and taxes, which increase the final cost per kilowatt-hour. Therefore, even if there is talk of negative or near-zero prices in the wholesale market, the bill will never be zero, nor will it become revenue. The real cost of domestic energy It includes these additional factors.
To have a more accurate reference of actual price of electricity that will be applied to PVPC usersWe have to wait for Red Eléctrica de España to publish it every afternoon, approximately between 20:15 and 20:30The detailed rate for the following day. Based on this information, consumers can more accurately plan their consumption for the next day.
In any case, the behavior of the wholesale market serves as thermometer of the general trendWhen spot prices plummet, it is common for the bills of indexed and regulated customers to also decrease, although always with a certain lag and with the influence of other regulated components.
Relationship with other European markets and short-term forecasts
Spain is connected to the rest of Europe, especially with France and Portugalthrough electrical interconnections. To follow the evolution of SPOT price in other European countries It helps to anticipate, to some extent, what may happen in the Iberian system: if neighboring markets set very high prices, it is more likely that the cost will also become strained here, and vice versa.
However, to make a accurate prediction of the price of electricity The outlook for the coming days remains very complicated. Market volatility is influenced by factors such as weather, power plant availability, gas prices, projected demand, and even geopolitical tensions, such as the conflicts in the Middle East.
Despite this uncertainty, a pattern is frequently observed: Electricity is usually cheaper on weekendsDue to lower overall demand, shifting consumption that can be moved to Saturdays and Sundays is often an effective strategy to reduce the impact on the bill.
In the specific case of this sequence of days, coinciding with Holy Week, the forecasts indicate that The low prices could last longer for most of the holidays, provided that good renewable production conditions are maintained and there are no shocks in international energy markets.
How to take advantage of off-peak electricity prices
Whatever the wholesale price level, adapt consumption habits It remains one of the most effective tools for saving energy. On days with such marked dips in the middle of the day, it's advisable to schedule washing machines, dishwashers, dryers, or oven use during the central periods, especially between [the times of day missing]. 10:00 and 18:00, when the cost of energy is usually much lower.
For those who have regulated tariff PVPC or market-indexed tariffsChecking the hourly rate daily and organizing household chores accordingly can make a significant difference at the end of the month. However, if adjusting consumption isn't possible or greater stability is desired, fixed-price tariffs on the free market can offer predictability, at the cost of missing out on these occasional great opportunities.
It is also useful to review the contracted power, avoid unnecessary simultaneous consumption, and take advantage of more efficient technologies, such as heat pump for air conditioningIn a low-price scenario, energy efficiency remains a key ally: it reduces base consumption and further enhances the savings derived from off-peak hours.
This entire period demonstrates that monitor the price of electricity by the hourDifferentiating the spot price from the final cost and understanding which price ranges are the cheapest and most expensive allows consumers to navigate a complex market more easily, take advantage of days with very cheap energy, and better protect themselves against price spikes that will inevitably return.
