Monthly electricity market report · MIBEL

Iberian electricity market — January 2024

Day-ahead price, demand and generation mix · ESIOS and OMIE data

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Average price

74.1 €

▲ +2.7% vs December 2023

Average demand

28.2 GW

▲ +5.2% vs December 2023

Renewables

55%

▼ −5 pp YoY · CO₂-free 78%

Negative periods

YoY

Day-ahead market price

The day-ahead market averaged 74.1 €/MWh, +2.7% versus December 2023. In perspective it sits +9.3% against the 10-year January average (67.8 €/MWh): a broadly normal month. The year-on-year figure (+6.5% vs January 2023) is distorted by an anomalous base.

Hourly month heatmap

Hour ↑ · Day of month → 0 €/MWh · 168 €/MWh

0 €/MWh

168 €/MWh

Daily average price comparison

Day of month · €/MWh

Demand

Peninsular demand averaged 28.2 GW, +5.2% on December 2023 and +0.4% YoY, peaking at 38.2 GW.

Hour · GW

Generation mix

On about 22.3 TWh scheduled (P48), renewables made up 55% and CO₂-free generation 78%.

Generation mix

Eólica

Nuclear

Hidráulica

Ciclo combinado

Solar fotovoltaica

Cogeneración

Wind

25.8% −22%

Nuclear

23.1% +1%

Hydro

18.3% +1%

CCGT

11.9% +23%

Solar PV

8.8% +13%

Cogeneration

7.6% +38%

Pumped-storage

1.6% −17%

Other renewables

1.3% −3%

Coal

1.2% −16%

Solar thermal

0.5% −15%

Fuel / gas

0.0%

Other

0.0%

Historical context

202

January · €/MWh

Methodology

Price: ESIOS indicator 600 (Spain). Demand: ESIOS indicator 1293 (peninsular). Mix: P48 schedule by technology (REE/ESIOS), best estimate at month close — metered generation is published later; the check against the most recent metered month shows differences below 1%. Peninsular scope, full calendar month.