October power rates to drop as heat eases

The wholesale electricity market is sending signals of stabilization or even a slight reduction for October's floating rates.

The average price of a megawatt-hour in the wholesale market is set in September, five days before the end of the month, at 118.37 euros per megawatt-hour, recording a decrease of almost €10 from the average price of €129.83 in August and much lower than the July rate of €135.54 euros, which was also the highest price of the year.

The path of the wholesale price so far sets a positive mood for consumers, unless some highly unpredictable event occurs to halt the de-escalation process, since the main driver of the upward price push - high demand due to high temperatures - has gone away.

Falling temperatures pushed weekly electricity demand from September 16-22 below 1 terawatt-hour after 16 weeks. Compared to the previous week, demand fell...