MARKETS 2024
Average final price
Information based on provisional data as of January 2025
The final average energy price was 23.7% lower than the previous year, although it has not yet returned to pre-2021 levels.
During 2024, the final energy price in the electricity market (reference supply plus free contracting) was 0.9% higher than the previous year.
The average final energy price on the electricity market stood at €76.30/MWh in 2024, 23.7% lower than in 2023.
Components of the average final price of peninsular final energy. (Reference supply + free)
PDBF: Daily base operating schedule.
Secondary control range and RAD: From 1 November 2022, the 'Reserve' 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.
Final energy: It includes the closure of the energy market and the consumption of ancillary generation services.
A month-on-month comparison shows that prices were lower than in the same months of the previous year, except for November and December. These months recorded the highest values since February 2023.
Evolution of the components of the average final price of energy in the electricity market
The share of the day-ahead and intraday market component decreased to 84.7% this year, down from 88.8% in 2023, but still higher than in 2022 (83.3%). The share of balancing services stands at 15.0%, the highest percentage recorded, exceeding last year’s 10.7% and the 10.4% registered in 2014. The share of capacity payments accounts for only 0.3%, compared to 0.2% last year.
Comparing the impact of the price on demand served with that of last year, the impact of the day-ahead and intraday market price decreased by slightly more than 27% (as the wholesale price has dropped), the impact of ancillary services increased by 7%, and the impact of capacity payments decreased by almost 10%.
Components of the average final price of energy
Electricity markets
Voluntary price for small consumers
Electricity markets
Day-ahead market