The electricity price dropped 50 percent on Monday thanks to wind power

The third week of March has started with good news: the price of electricity dropped to 37 euro per megawatt per hour. An unthinkable cost for months and that represents a decrease of more than 50% compared to previous days. It is, therefore, one of the cheapest electricity prices so far this year.

The average price of electricity for months has gone up. In the monthly accumulated until this Monday, March 13, the cost stands at 103.43 euro/MWh, which means that the expense decreases by up to 30 euro compared to the values ​​of the month of February.

The average price of electricity has been decreasing its cost for days. Following this trend, it fell to 42% last Friday, accumulating a drop of 71.1% with respect to spending on Monday of the same week. The Iberian Electricity Market Operator indicates that for days, and especially on Friday -in an annual comparison-, electricity registered a reduction of 88.4%. In March 2022, the cost of electricity was 369.75 euro per MWh.

The electricity bill has been decreasing due to the growth of wind farms -during the last days, strong gusts of wind have been registered, which means a greater production of energy-, according to data of Red Eléctrica.