These are the cheapest hours of electricity for this Friday, September 2

These are the cheapest hours of electricity for this Friday, September 2

The average price of electricity for regulated rate customers linked to the wholesale market will fall again this Friday, with a decrease of 17.7% compared to this Thursday, to 375.84 euros per megawatt hour (MWh), its lowest level since last August 26, according to provisional data from the Iberian Energy Market Operator (OMIE) collected by Europa Press.

This price is the result of adding the average of the auction in the wholesale market to the compensation that the demand will pay to the combined cycle plants for the application of the 'Iberian exception' to cover the price of gas for electricity generation.

In this way, the price it moves away from the maximum levels of 476.39 euros/MWh on average that marked this Wednesday, in which it is the highest value since the entry into force of the 'Iberian exception' and the second highest price in history for regulated rate customers linked to the wholesale market, only behind the record of 544.98 euros/MWh registered on March 8, before the 'cap on gas' came into force.

In the auction, the average price of electricity in the wholesale market - the so-called 'pool' - stands for this Friday at 152.14 euros/MWh. The maximum price will be registered between 10:00 p.m. and 11:00 p.m., with 205.27 euros/MWh, while the minimum for the day, of 119.77 euros/MWh, will be between 5:00 p.m. and 6:00 p.m.

00h - 01h: €0.5897/kWh

01h - 02h: €0.5021/kWh

02h - 03h: €0.5235/kWh

03h - 04h: €0.53758/kWh

04h - 05h: €0.54005/kWh

05h - 06h: €0.53543/kWh

06h - 07h: €0.51891/kWh

07h - 08h: €0.54828/kWh

08h - 09h: €0.55856/kWh

09h - 10h: €0.51638/kWh

10am - 11am: €0.49337/kWh

11am - 12pm: €0.46571/kWh

12pm - 1pm: €0.46321/kWh

1pm - 2pm: €0.45394/kWh

2pm - 3pm: €0.39739/kWh

3pm - 4pm: €0.38919/kWh

4:00 p.m. - 5:00 p.m.: €0.4444/kWh

5:00 p.m. - 6:00 p.m.: €0.45592/kWh

6:00 p.m. - 7:00 p.m.: €0.53915/kWh

7:00 p.m. - 8:00 p.m.: €0.47793/kWh

8:00 p.m. - 9:00 p.m.: €0.54664/kWh

9:00 p.m. - 10:00 p.m.: €0.55116/kWh

10pm - 11pm: €0.47455/kWh

23h - 00h: €0.47097/kWh

To this price of the 'pool' is added the compensation of 223.7 euros/MWh to the gas companies that has to be paid by the consumers who benefit from the measure, the consumers of the regulated tariff (PVPC) or those who, despite being in the free market, they have an indexed rate.

This spiral of high electricity prices that has occurred over the last week has been driven by the price of natural gas, which is at maximum levels, mainly due to the cut by Gazprom, since last Wednesday and during three days, from pumping gas to Germany.

Despite the confirmation of the cut in supply, gas futures contracts in the Dutch TTF market have eased in recent days. Thus, this Thursday the October contracts were trading at 236 euros/MWh. In addition, the price of gas for the Iberian market (Mibgas) fell by 8.7%, to 172 euros/MWh.

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