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The price of electricity in Spain falls to its lowest in six months, thanks to renewable energies

The price of electricity in Spain falls to its lowest in six months, thanks to renewable energies

Tomorrow, Wednesday 20 April, the rate charged will be the lowest since last October and the cheapest time of day will be between 5pm and 6pm

José María Camarero

Madrid

Tuesday, 19 April 2022, 18:49

All the circumstances that determine the price of electricity each day in Spain have aligned so that tomorrow, Wednesday 20 April, it will be the lowest since last October, long before the war began in Ukraine and after a strained summer in terms of prices. The cost of generating electricity will fall by around 24% to 84 euros per Megawatt hour, which is a new annual low.

The highest price consumers will be charged for electricity tomorrow will be between 9am and 10am, at 148 euros/MWh, and the lowest will be between 5pm and 6pm at about six euros/MWh. In fact, it will be below 10 euros /MWh for the three hours between 4 and 7pm.

The lower price during the past week is due to two factors: a greater contribution from renewable energy plants and a reduction in the price of gas. However, compared with the same date last year, the average price of electricity tomorrow will be 8.4 per cent more expensive than the 78.58/MWh on 20 April 2021.

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