The average wholesale electricity price in Spain stands at 164.98 euros per megawatt-hour (MWh) for Wednesday, September 30, marking a notable increase from the previous day.
Data published by the Iberian Energy Market Operator (OMIE) shows a sharp divide between daylight and evening rates. Consumers seeking to minimize their bills are advised to concentrate their appliance usage in the early afternoon.
The cheapest period falls between 1:00 p.m. and 2:00 p.m., when the price drops to a minimum of 89.07 euros per MWh. In contrast, the most expensive hour occurs between 8:00 p.m. and 9:00 p.m., peaking at 249.61 euros per MWh.
The wholesale figures do not represent the final price paid by consumers, as household energy bills also incorporate various tolls, charges and taxes.
The hike in wholesale electricity rates comes amid broader inflation, with overall prices shooting up by 4.9 percent in September due to rising fuel costs. The inflation figure marks the largest increase in more than three years.
The energy squeeze is also taking a heavy toll on the industrial sector. Manufacturers have taken a stand against the escalating power costs, reporting 7.4 billion euros in additional expenses that have forced some factories to halt operations.
Morning price surge
Wednesday begins with prices hovering near 133 euros per MWh in the early hours. The cost climbs sharply at dawn, pushing past 200 euros between 7:00 a.m. and 9:00 a.m., and reaching 205.32 euros from 8:00 a.m. to 9:00 a.m.
Rates then fall through the morning. The periods surrounding the afternoon minimum remain below 115 euros until 3:00 p.m., offering a window for households to run high consumption devices.
Evening peak rates
Following the afternoon lull, prices resume their climb from 3:00 p.m. onwards and break the 200 euros per MWh threshold by 6:00 p.m. After the 8:00 p.m. peak, rates decrease slightly but stay above 200 euros for the final four hours of the day, making it advisable to delay unnecessary power usage.
Hourly wholesale prices
- 00:00 to 01:00: 133.35 euros
- 01:00 to 02:00: 132.56 euros
- 02:00 to 03:00: 133.35 euros
- 03:00 to 04:00: 138.11 euros
- 04:00 to 05:00: 136.68 euros
- 05:00 to 06:00: 153.94 euros
- 06:00 to 07:00: 169.13 euros
- 07:00 to 08:00: 204.69 euros
- 08:00 to 09:00: 205.32 euros
- 09:00 to 10:00: 180.72 euros
- 10:00 to 11:00: 159.64 euros
- 11:00 to 12:00: 125.57 euros
- 12:00 to 13:00: 105.20 euros
- 13:00 to 14:00: 89.07 euros
- 14:00 to 15:00: 96.60 euros
- 15:00 to 16:00: 114.18 euros
- 16:00 to 17:00: 128.12 euros
- 17:00 to 18:00: 168.38 euros
- 18:00 to 19:00: 214.28 euros
- 19:00 to 20:00: 242.07 euros
- 20:00 to 21:00: 249.61 euros
- 21:00 to 22:00: 231.22 euros
- 22:00 to 23:00: 230.37 euros
- 23:00 to 24:00: 217.27 euros
