The Iberian Peninsula electricity futures market rose sharply this Thursday in the face of Russia’s attack on Ukraine, with the contract for 2023 closing at 161.25 euros per megawatt hour (MWh), 14% more than the price Wednesday closing date. It is, so far, the highest value of this beginning of the year for this annual contract.
The data are from OMIP, the forward market operator in Portugal and Spain, representing the fifth day in a row of rising prices that market agents expect for the coming year.
This Thursday’s rise reflected the receipts from electricity market operators who, in the current situation of high electricity supply, electricity wholesalers selected high prices for next year, on the heels of high costs of natural gas, key in the European energy matrix, including in the production of electricity in combined cycle plants.
Even more impressive was the rise in the monthly electricity contract for March, which jumped from 212 euros per MWh on Wednesday to 306.5 euros per MWh this Thursday. The next contracts until August have all prices close to 30 euros per MWh.
Also higher futures of an electricity increase in the second quarter of the Russian 213 euros electricity increase for the second quarter of 213 euros 213 euros per MW for the other
The first players in the Iberian market are negotiating the fourth with quarterly futures at prices especially until the next quarter of 2023, with a price of close to 25 euros per MWh, but contracts for the second, third and quarter of next year are lowered to 130 euros per MWh.