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On Sunday, April 23, the electricity price in Spain will experience a significant drop, with a seven-hour period where it will cost €0/MWh. Compared to the previous day, Saturday, April 22, the average electricity price for customers on a regulated rate connected to the wholesale market will see a decrease of 37%, settling at €49.94/MWh.
The Iberian Energy Market's (OMIE) operator has confirmed that, following the auction, the wholesale energy market cost—commonly referred to as the 'pool'—will be €49.94/MWh on Sunday.
The lowest electricity prices on Sunday will occur between 10 am and 12 pm, as well as between 2 pm and 7 pm, during which the price will be €0/MWh. Conversely, the highest price will be between 9 pm and 10 pm, reaching €125/MWh.
A compensation of €0/MWh for gas companies has been consistently included in the pool price since February 27, and must be paid by customers benefiting from this measure. These customers include those on the regulated tariff (PVPC) or those with an indexed rate in the free market.
Following this recent reduction, electricity prices on April 23 will be 42% lower than the previous year when they were €86/MWh.
On March 28, the Council of Ministers approved the extension of the Iberian exception until December 31, after Spain and Portugal reached an agreement with the European Commission. It is possible that this agreement could be extended further if the existing framework is also extended.