Monthly electricity market report · MIBEL

Iberian electricity market — November 2024

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

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Average price

104.4 €

▲ +52.3% vs October 2024

Average demand

25.9 GW

▲ +1.8% vs October 2024

Renewables

53%

▼ −10 pp YoY · CO₂-free 72%

Negative periods

YoY

Day-ahead market price

The day-ahead market averaged 104.4 €/MWh, +52.3% versus October 2024. In perspective it sits +42.7% against the 10-year November average (73.2 €/MWh): a somewhat expensive month. The year-on-year figure (+64.6% vs November 2023) is distorted by an anomalous base.

Hourly month heatmap

Hour ↑ · Day of month → 3 €/MWh · 193 €/MWh

3 €/MWh

193 €/MWh

Daily average price comparison

Day of month · €/MWh

Demand

Peninsular demand averaged 25.9 GW, +1.8% on October 2024 and −0.7% YoY, peaking at 34.4 GW.

Hour · GW

Generation mix

On about 19.6 TWh scheduled (P48), renewables made up 53% and CO₂-free generation 72%.

Generation mix

Eólica

Nuclear

Ciclo combinado

Hidráulica

Solar fotovoltaica

Cogeneración

Wind

24.5% −31%

Nuclear

18.5% −4%

CCGT

17.2% +53%

Hydro

14.1% −22%

Solar PV

12.6% +23%

Cogeneration

7.9% +52%

Other renewables

1.6% +28%

Coal

1.4% +23%

Pumped-storage

1.1% −36%

Solar thermal

0.6% −2%

Other

0.3%

Fuel / gas

0.0%

Historical context

193

116

104

November · €/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.