In the midst of the heat wave that hit the entire Iberian Peninsula, and with increased energy consumption, prices on the wholesale market will rise this Sunday, August 15, to 110.02 euros per megawatt / hour. The amount will be 4% below 114.63 MWh this Saturday, but still historic for Sunday, according to data from OMIE, the Iberian energy market operator, quoted by El País.
Analyzing prices by time intervals, MWh will vary from 124.91 euros, which will cost electricity from midnight to 01:00, and from 84.97 euros between 18:00 and 20:00.
In fact, the wholesale price will fall for the second day in a row, but the adjustments are very minor compared to the gains recorded over the past few weeks. On the last two Sundays of August, electricity was sold on the wholesale market at a price of about 80 euros per MWh, while in July on Sundays prices ranged from 80 to 90 euros per MWh.
One of the factors contributing to the rise in electricity prices is the heat wave that is being felt in the Iberian Peninsula. But prices for natural gas used to generate electricity are also rising. The price at which CO2 licenses are sold also puts pressure on the wholesale electricity market.
On a monthly basis, July was the most expensive on record, with the Iberian electricity market Mibel ending the month with an average price of EUR 92.60 / MWh.
