The price of electricity today, Monday 4 September, is up 37% compared to this Sunday. This leaves behind the falls and increases again at the beginning of the week. The cheapest time will be from 15:00 to 16:00 hours, which will cost 52.14 euros/MWh, and the most expensive time will be from 20:00 to 21:00 hours, when electricity will cost 138.33 euros/MWh

This Monday, 4 September, the price of electricity will rise by 37%. So far this month, electricity has cost an average of 89.6 euros/MWh, compared to 243.7 euros/MWh in September 2022, the third most expensive month in history. Since 2023 began, the average price has reached 89.5 euros/MWh, much less than half the 233.6 euros/MWh of a year ago.

The most expensive and cheapest hours for electricity on Monday 4 September

By time slot, the maximum price, 138.3 euros/MWh, will be recorded between 20.00 and 21.00 hours, while the minimum price will be between 15.00 and 16.00 hours, with 52.14 euros/MWh, according to provisional data from the Iberian Energy Market Operator (OMIE). Thus, the average price of electricity on Monday 4 September will be 87 euros/MWh.

Today’s electricity prices by time slots

  • From 00:00 to 01:00 hours: 83.02 euros/MWh.
  • From 01:00 to 02:00 hours: 71.75 euros/MWh.
  • From 02:00 to 03:00: 62.57 euros/MWh.
  • From 03:00 to 04:00: 54.8 euros/MWh.
  • From 04:00 to 05:00: 52.86 euros/MWh.
  • From 05:00 to 06:00: 55.04 euros/MWh.
  • From 06:00 to 07:00: 86 euros/MWh.
  • From 07:00 to 08:00: 114 euros/MWh.
  • From 08:00 to 09:00: 120.29 euros/MWh.
  • From 09:00 to 10:00: 109.36 euros/MWh.
  • From 10:00 to 11:00: 92.88 euros/MWh.
  • From 11:00 to 12:00: 82.07 euros/MWh.
  • From 12:00 to 13:00: 77.69 euros/MWh.
  • From 13:00 to 14:00: 70 euros/MWh.
  • From 14:00 to 15:00: 54.8 euros/MWh.
  • From 15:00 to 16:00: 52.14 euros/MWh (the cheapest price will be recorded).
  • From 16:00 to 17:00: 52.52 euros/MWh.
  • From 17:00 to 18:00: 63.99 euros/MWh.
  • From 18:00 to 19:00: 98 euros/MWh.
  • From 19:00 to 20:00: 117.92 euros/MWh.
  • From 20:00 to 21:00: 138.33 euros/MWh (the most expensive price).
  • From 21:00 to 22:00: 137.76 euros/MWh.
  • From 22:00 to 23:00: 121.7 euros/MWh.
  • From 23:00 to 24:00: 115 euros/MWh.

The Iberian derogation

The so-called ‘Iberian derogation’ has been extended until 31 December, following the agreement reached by Spain and Portugal with the European Commission. This consists of limiting the price of natural gas used in electricity production to alleviate the consequences of the escalation of energy prices in the electricity pool following the outbreak of the conflict in Ukraine.