Electricity market raises its maximum legal price from 3,000 to 4,000 euros from today

The government will serve to intervene in the electricity market and thus, price increase. He will do this next Friday in an extraordinary Cabinet, which will approve the maximum price-setting mechanism for gas and coal used to generate electricity to reduce electricity. During the full countdown for the implementation of the measure, the wholesale electricity market has increased the maximum legal price as of this Tuesday, which is mandated by the European Union legislation.

This Tuesday, electricity companies, marketers and traders Buying and selling the energy to be consumed the next day when the new ceiling price is applied for the bids, from 3,000 euros to 4,000 euros per megawatt hour (MWh). A new maximum limit already in force in the Spanish market and the rest of the European electricity markets. The implementation of the new fork actually caused problems in one of the European markets to close the matching of energy buy and sell offers and delayed the publication of the final result of the session on the European set, according to financial confirmations. resources.

European regulations determine this When certain limits are exceeded, the price limits that can be used in daily transactions should be reviewed. (especially if 60% of the current limit is exceeded). This happened on April 3 and 4 in France, with hourly prices of 2,712.99 euros and 2,987.78 euros per MWh being recorded in the midst of a cold wave and several nuclear power plants shut down.

Exorbitant prices triggering the revision of the ceilings of the Harmonized Maximum and Minimum Prices for Compensation Methodology (PMCM) and mandating an increase of the maximum price by 1,000 euros in the European wholesale markets pool), El Periódico de Catalunya (newspaper of the same editorial group to which El Periódico de España belongs.

After the change, the price range allowed to be traded on the European electricity markets ranges from a minimum of -500 Euros per MWh (yes, negative prices) to a new maximum of 4,000 Euros. Different sources in the electricity sector and financial intermediaries participating in the wholesale energy market, These maximum prices will not be reached in the Spanish market It is a technical regulation that supports the harmonious functioning of European markets, which will have no real impact on pool Spanish.

So far, the maximum price registered in the Spanish electricity market is 544.98 Euros per MWh per day (on March 8), and 700 Euros at a given hour (from 19:00 to 20:00 on the same day). ). and several times The price of the Spanish pool approached 0 euros In times of low demand and high production of renewable energies, however, it has not touched negative prices as in other European markets.

Spain and Portugal have resisted applying the wide price ranges required by the European Union, and even go so far as to propose to the European Commission an alternative system to reach the borders in a very phased manner and within a few years. Until last July, Iberian markets maintained limits between 0 and 180 euros per MWh, but since then the same range has been applied as in the rest of the European markets.

Source: Informacion

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