Slight Rise in Spanish Wholesale Electricity Prices on December 1st
According to data released by the Iberian Energy Market Operator (OMIE), the average price in Spain’s wholesale electricity market for Sunday, December 1, 2024, is €126.52 per megawatt-hour (MWh), a slight increase of 2.02% compared to the previous day. This price fluctuation provides a key reference for consumers planning their electricity usage. The cheapest hours are concentrated around midday.
Detailed Price Changes
The price rose from Saturday’s €124.01/MWh to €126.52/MWh, an increase of €2.51. Compared to the same period last year, this represents a rise of approximately 29.1%. This data reflects the initial market dynamics at the beginning of December, and consumers should be mindful of cost control.
Hourly Peak and Off-Peak Price Distribution
The cheapest period is from 12:00 to 13:00, with the price dropping to €105.53/MWh. This is an ideal time for activities like doing laundry or charging devices. The most expensive period is from 20:00 to 21:00, when the price reaches €223.97/MWh. It is advisable to avoid using high-power appliances during this peak time.
Market Reference Value
OMIE’s daily pool price data is a cornerstone of transparency in the Spanish electricity market. Households and businesses can use this information to adjust their consumption schedules, shifting energy-intensive activities to off-peak hours to effectively reduce their expenses.
Overall Market Significance
The price level on December 1st serves as a benchmark for subsequent trading days. By continuously monitoring the hourly rates, consumers can optimize their energy consumption and achieve cost savings.
