On Thursday, May 1, 2025, the average price of electricity in Spain is set at 13.29 euros per megawatt hour (MWh), marking a significant decrease of 58.26% from the previous day's average of 31.83 euros per MWh. This drop of 18.54 euros is welcome news for consumers, especially as it coincides with the celebration of Labor Day, a public holiday that typically leads to lower energy consumption.
Despite this reduction, the current price is slightly higher than the same day last year, when the average stood at 12.53 euros per MWh, reflecting a 6.07% increase year-on-year. The data comes from the Iberian Electricity Market Operator (OMIE), which tracks electricity pricing trends across the country.
For consumers looking to optimize their electricity usage, the hourly pricing reveals some interesting insights. The cheapest hour of electricity will occur between 15:00 and 16:00, with a striking price of -10.00 euros per MWh. This negative pricing suggests that producers are incentivizing consumption during this time due to excess supply.
Following this, between 13:00 and 15:00, the price will be -7.81 euros per MWh, and from 12:00 to 13:00, it will be -7.02 euros per MWh. These prices indicate that consumers can save significantly if they time their energy-intensive activities, such as running washing machines or dishwashers, during these hours.
Conversely, the most expensive hour for electricity on May 1 will be from 21:00 to 22:00, when prices will peak at 55.00 euros per MWh. This high cost is followed by a drop to 35.50 euros per MWh from 22:00 to 23:00, and 33.87 euros per MWh from 23:00 to midnight. Consumers are advised to avoid using high-energy appliances during these peak hours to mitigate their electricity bills.
The pricing trends for May 1 reflect a broader pattern seen in recent months, where electricity prices have fluctuated significantly. For instance, just two days prior, on April 30, 2025, the average price surged to 31.87 euros per MWh, a stark contrast to the current lower rates. This spike was attributed to various factors, including energy demand and supply dynamics.
On April 30, the price of electricity was reported to be 31.87 euros per MWh, which represented a 450% increase compared to the previous day’s price of 5.79 euros per MWh. This dramatic rise highlights the volatility in the energy market, which can be affected by a multitude of factors such as weather conditions, fuel prices, and overall electricity demand.
For those tracking hourly rates on April 30, the most expensive hour was recorded between 07:00 and 08:00, where the price reached an astonishing 117.01 euros per MWh. In contrast, the cheapest hour was found between 14:00 and 15:00, with a price of -0.17 euros per MWh.
As Spain moves towards a more dynamic pricing model, consumers are encouraged to stay informed about the hourly rates to make the most of their electricity consumption. The introduction of a new method for calculating the electricity price aims to provide more stability and predictability in the market. Starting in 2024, the calculation of the Voluntary Price for Small Consumers (PVPC) will incorporate medium and long-term pricing baskets, reducing reliance on short-term price fluctuations.
By 2026, futures markets will account for 55% of the pricing calculations, allowing consumers to benefit from more stable rates over time. This shift is expected to enhance efficiency in electricity consumption and encourage consumers to adjust their usage patterns to align with the most economical pricing periods.
In summary, the electricity pricing for May 1, 2025, presents a mixed bag for consumers in Spain. While the overall average price is significantly lower than the previous day, it remains higher than last year’s rates. The availability of negative pricing during certain hours offers a unique opportunity for consumers to save on their energy bills. As the energy market continues to evolve, staying informed about pricing trends will be crucial for managing household energy costs effectively.
