Spain Closes 2022 With a Historically Low Wholesale Price

Low Light Minimums: Spain Closes 2022 with a Historically Low Wholesale Price

The megawatt hour stands at €26.09, marking a respite after a turbulent year and with an eye on savings

The Spanish electricity market says goodbye to 2022 with hopeful news: the wholesale price of electricity, a key reference for consumers with a regulated tariff (PVPC), has hit annual lows. After a year marked by volatility and historical peaks, which promoted a consensual European energy policy, the energy panorama seems to offer a respite.

This Thursday, January 29, the average price per megawatt hour (MWh) is at an attractive **26.09€**. This figure, notably lower than that of previous months, is a direct reflection of the measures implemented, such as the “gas cap” mechanism, which has proven effective in moderating energy costs.

For those seeking to optimize their consumption and reduce their bill, today offers a window of opportunity. The most advantageous time slot for savings is concentrated **between 2:00 p.m. and 5:00 p.m.**, moments in which the price of MWh drops significantly, allowing for more economical consumption.

The average price of electricity for January 29, 2025 is set at **€0.125 per kilowatt hour (kWh)**. This overall figure hides, however, considerable variability across hours, offering savings opportunities for those who pay attention to the clock.

The most favorable time to connect the appliances with the highest consumption or carry out tasks that require more energy is in the early morning. Specifically, **between 02:00 and 03:00 hours**, the price of the kWh reaches its lowest point, trading at **€0.0743/kWh**. A real energy bargain.

At the opposite extreme, the highest price of the day is recorded **between 10:00 and 11:00 a.m.**, when the cost per kilowatt hour shoots up to **€0.1864/kWh**. It is crucial to avoid intensive consumption during this period to avoid seeing an increase in your bill.

Throughout the day, prices fluctuate as follows:

00:00 – 01:00: €0.0824/kWh
01:00 – 02:00: €0.0777/kWh
02:00 – 03:00: €0.0743/kWh (Minimum of the day)
03:00 – 04:00: €0.0747/kWh
04:00 – 05:00: €0.0747/kWh
05:00 – 06:00: €0.0757/kWh
06:00 – 07:00: €0.085/kWh
07:00 – 08:00: €0.1143/kWh
08:00 – 09:00: €0.1267/kWh
09:00 – 10:00: €0.1244/kWh
10:00 – 11:00: €0.1864/kWh (Maximum of the day)
11:00 – 12:00: €0.1818/kWh
12:00 – 13:00: €0.1781/kWh
13:00 – 14:00: €0.1772/kWh
14:00 – 15:00: €0.1056/kWh
15:00 – 16:00: €0.1041/kWh
16:00 – 17:00: €0.1052/kWh
17:00 – 18:00: €0.116/kWh
18:00 – 19:00: €0.1862/kWh
19:00 – 20:00: €0.1836/kWh
20:00 – 21:00: €0.1829/kWh
21:00 – 22:00: €0.1838/kWh
22:00 – 23:00: €0.1076/kWh
23:00 – 24:00: €0.0918/kWh

The price escalation that has affected Europe in recent times is due to a confluence of factors. The ** rise in the price of gas in international markets ** is one of the main culprits, since this fuel is crucial in the combined cycle plants that set the market price at many hours of the day. Added to this is the **increase in the value of carbon dioxide (CO2) emission rights**, a factor that makes the production of energy from non-renewable sources more expensive.

Frequently Asked Questions about the Price of Electricity

What is the average price of electricity today?

The average price of electricity today, January 29, 2025, is €0.125/kWh.

When is electricity cheaper today?

The most economical time to consume electricity today is 02:00 to 03:00 hourswith a price of 0.0743€/kWh.

When is electricity most expensive today?

The highest price of electricity today is recorded 10:00 a.m. to 11:00 a.m.reaching the 0.1864€/kWh.

What has caused the drop in the price of electricity?

The decrease is due, in part, to the implementation of the “gas cap” and the moderation of prices in international markets, after a year of high volatility.

Does this price affect all consumers?

This is the wholesale price, which is the main reference for clients with a regulated rate or PVPC.

What are CO2 emission rights and how do they affect the price of electricity?

They are permits that industries must acquire to emit carbon dioxide. Its increase has an impact on the cost of energy production, especially that of fossil origin.