Spain's average wholesale electricity price fell slightly to 116.02 euros per megawatt hour on Sunday, August 16, according to data published by Iberian market operator OMIE.
The slight drop from Saturday's average rate included five distinct time slots during the early afternoon when electricity prices fell below one euro per megawatt hour.
The daily benchmark figure published by the Operador del Mercado Ibérico de la Energía serves as a reference for household consumers seeking to schedule appliance use and manage daily energy costs. Although the overall average recorded a minor decline compared to the previous day, the price spread across different hours of the day remained substantial.
Market data shows that wholesale prices reflect wholesale clearing rates rather than the final figures on domestic utility bills. Final consumer electricity costs in Spain also incorporate regulated distribution access tolls, fixed system charges, and national taxes.
Wholesale Electricity Market Rates
Electricity prices across Spain remained high throughout the early morning hours of Sunday, August 16. Wholesale values fluctuated between 150 euros and 190 euros per megawatt hour between midnight and 09:00.
Energy market figures indicated that power costs opened at 191.52 euros per megawatt hour between 00:00 and 01:00. Rates remained elevated through the night, standing at 181.49 euros between 01:00 and 02:00, 178.7 euros between 02:00 and 03:00, and 181.97 euros between 03:00 and 04:00.
Morning rates gradually eased from 167.23 euros per megawatt hour between 04:00 and 05:00 to 163.2 euros between 05:00 and 06:00, 159.01 euros between 06:00 and 07:00, and 158.59 euros between 07:00 and 08:00. Between 08:00 and 09:00, the price stood at 155.38 euros per megawatt hour, before dropping steeply to 98.1 euros between 09:00 and 10:00.
The Operador del Mercado Ibérico de la Energía manages the wholesale spot electricity market for Spain and Portugal on the Iberian Peninsula. The day-ahead market clears daily pricing based on supply from power generators and demand from supply companies, setting hourly marginal prices for the regional grid.
Midday Price Drop and Lowest Slots
Electricity costs fell rapidly late in the morning as generation increased relative to demand. Prices dropped to 11.59 euros per megawatt hour between 10:00 and 11:00, before entering a five-hour window where rates remained below one euro.
Between 11:00 and 12:00, the price fell to 0.13 euros per megawatt hour. The lowest price period of the day occurred between 12:00 and 14:00, when wholesale rates hit a minimum of 0 euros per megawatt hour for two consecutive hours.
Low prices continued into the early afternoon. Wholesale electricity recorded 0.49 euros per megawatt hour between 14:00 and 15:00, and 0.85 euros per megawatt hour between 15:00 and 16:00.
The afternoon window around 13:00 provided the most cost-effective time for domestic consumers to operate energy-intensive household appliances, including washing machines and dishwashers, or to charge electric vehicles.
Evening Surge and Daily Maximum
Wholesale prices began rising again during the late afternoon, reaching 2.59 euros per megawatt hour between 16:00 and 17:00, 49.52 euros between 17:00 and 18:00, and 102.55 euros between 18:00 and 19:00.
A sharp evening surge began after 19:00 as demand increased across the national grid. Rates climbed to 170.92 euros per megawatt hour between 19:00 and 20:00, and crossed the 200-euro threshold to reach 200.02 euros between 20:00 and 21:00.
The highest price of the day occurred between 21:00 and 22:00, when wholesale electricity reached a daily peak of 211.54 euros per megawatt hour. Prices remained high through the end of the night, standing at 206.54 euros between 22:00 and 23:00, and 192.65 euros between 23:00 and 24:00.
Consumers were advised to avoid heavy electrical use during the peak evening hours and concentrate consumption during the early afternoon window to limit the impact on their electricity bills.
Complete Hourly Electricity Rates
The complete 24-hour wholesale electricity prices per megawatt hour for Sunday, August 16, as released by OMIE, were as follows:
- 00:00 to 01:00: 191.52 euros
- 01:00 to 02:00: 181.49 euros
- 02:00 to 03:00: 178.7 euros
- 03:00 to 04:00: 181.97 euros
- 04:00 to 05:00: 167.23 euros
- 05:00 to 06:00: 163.2 euros
- 06:00 to 07:00: 159.01 euros
- 07:00 to 08:00: 158.59 euros
- 08:00 to 09:00: 155.38 euros
- 09:00 to 10:00: 98.1 euros
- 10:00 to 11:00: 11.59 euros
- 11:00 to 12:00: 0.13 euros
- 12:00 to 13:00: 0 euros (Daily Minimum)
- 13:00 to 14:00: 0 euros (Daily Minimum)
- 14:00 to 15:00: 0.49 euros
- 15:00 to 16:00: 0.85 euros
- 16:00 to 17:00: 2.59 euros
- 17:00 to 18:00: 49.52 euros
- 18:00 to 19:00: 102.55 euros
- 19:00 to 20:00: 170.92 euros
- 20:00 to 21:00: 200.02 euros
- 21:00 to 22:00: 211.54 euros (Daily Maximum)
- 22:00 to 23:00: 206.54 euros
- 23:00 to 24:00: 192.65 euros
