Price of electricity drops to lowest point since May 2021

The wholesale price of electricity in Spain's PVPC regulated market will drop to its lowest point since May 2021. On Thursday, the cost will average at €52.51/MWh, according to the Iberian Electricity Market Operator (OMIE).

The drop represents the lowest price of electricity in 19 months.

The reduction is driven by the increase in energy produced by wind and the Iberian peninsula exception approved by the Spanish, Portuguese, and EU Commission authorities. If this measure were not in place, the actual cost would be €136.74/MWh.

So far, the lowest price this year was registered on November 19, when the wholesale price of electricity was €55.98/MWh.

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