The price of electricity will rise almost 35% and will register its maximum since March

The average price of electricity in the wholesale market will rise by 34.

Thomas Osborne
Thomas Osborne
22 August 2022 Monday 08:44
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The price of electricity will rise almost 35% and will register its maximum since March

The average price of electricity in the wholesale market will rise by 34.87% this Tuesday and will stand at 365.33 euros per megawatt hour (MWh), with the cost of the 'pool' and compensation to gas companies, which which represents the highest price since March 10, according to the latest data from the Iberian Electricity Market Operator (OMIE).

This Tuesday's price will be the highest since the March period, in which record figures were reached in the history of the electricity market, until reaching 544.98 euros per megawatt hour on March 8.

The price of the 'pool' will remain at 182.93 euros, 3.7% more than the 176.4 euros of this Monday. The most expensive time will be between 9:00 p.m. and 10:00 p.m., when the price will rise to 250 euros, while the cheapest will be between 3:00 and 4:00 a.m. at 148.6 euros.

For its part, the amount of gas compensation will reach 182.4 euros, compared to 94.48 euros today, which translates into an increase of 93.06%. This is the highest amount that gas compensation reaches since its introduction on June 15.

In short, the 365.33 euros per MWh that will be registered this Tuesday represent a rise of 50.06% compared to the 243.45 euros of Tuesday of last week. Likewise, it is 35.94% higher than that of a month ago, July 23 (268.74 euros).

In a year-on-year comparison, this Tuesday there will be a rise of 226%, since on August 23 of last year the price was 99.76 euros per MWh.