MARKETS 2023
Average final price
Information based on provisional data as of January 2024
The average final energy price is approximately half that of last year and slightly lower than that of 2021.
During 2023, the final energy price in the electricity market (reference supply plus free contracting) was 2.4 % lower than the previous year.
The average final energy price on the electricity market stood at €100.18/MWh in 2023, approximately half that of 2022 and slightly lower than in 2021.
Components of the average final price of peninsular final energy. (Reference supply + free)
PDBF: Daily base operating schedule.
Secondary control range and RAD: From November 1, 2022, the "Range" component includes the cost of the power allocated in the active demand response service. The "RAD Service" component corresponds to the income from demand participating in the service.
Adjustment Mechanism RD-L 10/2022: From June 15, 2022, the Adjustment Mechanism component established in Royal Decree-Law 10/2022 is included.
Final energy: It includes the closure of the energy market and the consumption of auxiliary generation services.
A month-on-month comparison shows that prices were lower than in the same months of the previous year. The component introduced by the adjustment mechanism of RD-L 10/2022, which entered into force in June 2022 and remained in effect throughout 2023, was only applied in the first two months of the year, since the price of gas was below the cap for the remaining months.
Evolution of the components of the average final price of energy in the electricity market
The weight of the day-ahead and intraday market components has increased again, reaching 88.7 %. The weight of ancillary services represents 10.9 %, an all-time high, surpassing the 10.4 % recorded in 2014. The weight of capacity payments represents only 0.2 %, which is very similar to that of last year, while the component of the RD-L 10/2022 mechanism this year only accounted for 0.2 %.
Comparing the impact of the price on demand served with that of last year, the impact of the day-ahead and intraday market price has fallen by almost 48 % (as the wholesale price has decreased), the impact of ancillary services has increased by just over 48 % and the impact of capacity payments has decreased by over 27 %.
Components of the average final price of energy
Electricity markets
Voluntary price for small consumers
Electricity markets
Day-ahead market