It will be more than six times higher than that registered on the first Friday of March 2021, then it was 52.35 euros/MWh. In other European markets the average price of electricity will be even higher.
The price of electricity in the wholesale market will be paid this Friday at 340.7 euros per megawatt hour (MWh), its fourth highest price in history and only 0.42% below today’s, which is the most expensive so far this year.
According to data from the Iberian Market Operator (OMIE), electricity will punctually reach 410 euros/MWh tomorrow between 7:00 p.m. and 8:00 p.m.; while the cheapest slot will be the one between 4:00 and 5:00, when the price of electricity will be 264.61 euros/MWh.
Eight days after the beginning of the Russian invasion of Ukraine, the price of electricity will exceed the barrier of 300 euros/MWh for the second consecutive day, standing only 11.19% below its all-time highwhich was reached on December 23 last year (€383.67/MWh).
Tomorrow’s price will be more than six times higher than that registered on the first Friday of March 2021, then it was 52.35 euros/MWh.
In other European markets the average price of electricity will be even higher. Thus, it will reach 434 euros/MWh (359.89 pounds/MWh) in the United Kingdom; in Italy, 383.13 euros/MWh; in France, 363.70 euros/MWh; in Germany, 358.78 euros/MWh and in Portugal, 340.70 euros/MWh.
The price of gas in europe it has already shot up more than 50% in the last week as a result of the Russian invasion. The natural gas futures contracts that are traded on the Dutch platform TTF, a benchmark for Europe, have reached this Thursday the 199 euros per megawatt hour (MWh), for which they have once again registered a record price for the second consecutive day.
In parallel, the barrel price Brent quality oil, a reference for Europe, stood at 115.17 dollars, after rising 1.97%, while Texas stood at 113.31 dollars, after advancing 2.5%.
Yesterday, the Organization of the Petroleum Exporting Countries (OPEC) and its allies, the group known as OPEC+, decided to increase their joint oil production by 400,000 barrels per day.
In this way, from next month, OPEC+ production will be 41.694 million barrels per day, compared to the quota of 41.294 million that was set for the month of March.
Source: Eitb
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