Monthly electricity market report · MIBEL

Iberian electricity market — March 2024

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

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Average price

20.3 €

▼ −49.2% vs February 2024

Average demand

25.9 GW

▼ −4.8% vs February 2024

Renewables

68%

▲ +13 pp YoY · CO₂-free 84%

Negative periods

YoY

Day-ahead market price

The day-ahead market averaged 20.3 €/MWh, −49.2% versus February 2024. In perspective it sits −70% against the 10-year March average (67.6 €/MWh): a somewhat cheap month. The year-on-year figure (−77.4% vs March 2023) is distorted by an anomalous base.

Hourly month heatmap

Hour ↑ · Day of month → 0 €/MWh · 174 €/MWh

0 €/MWh

174 €/MWh

Daily average price comparison

Day of month · €/MWh

Demand

Peninsular demand averaged 25.9 GW, −4.8% on February 2024 and −0.7% YoY, peaking at 35.5 GW.

Hour · GW

Generation mix

On about 21.5 TWh scheduled (P48), renewables made up 68% and CO₂-free generation 84%.

Generation mix

Eólica

Hidráulica

Nuclear

Solar fotovoltaica

Ciclo combinado

Cogeneración

Wind

28.6% −7%

Hydro

23.0% +123%

Nuclear

16.2% −32%

Solar PV

14.3% +3%

CCGT

7.1% −42%

Cogeneration

5.6% −32%

Pumped-storage

1.9% −3%

Other renewables

1.4% −2%

Coal

1.0% −49%

Solar thermal

0.8% −57%

Fuel / gas

0.0%

Other

0.0%

Historical context

283

March · €/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.