this average electricity price the wholesale market will increase by 3.48% this Tuesday compared to this Monday and will remain above 200 Euro megawatt hours (MWh) for the second consecutive day.
Special, most electricity price this Tuesday it will stop at 213.82 euro/MWhAccording to data published by the Iberian Energy Market Operator (OMIE) and collected by Europa Press, this is about seven euros more expensive than Monday (206.62 euros).
With Tuesday’s data, electricity price closes May with an average of 187.12 euro/MWhIt was the eighth most expensive month in the historical series, which began in 1998.
Also, the average price in May 2022 is 178.78% more expensive than 67.12 Euro/MWh in the same month last year.
The maximum electricity price for this Tuesday will be recorded at 247.77 Euro/MWh between 07:00 and 08:00.a minimum of 180.18 euro/MWh for the day will take place between 15.00 and 17.00.
Compared to a year ago, the average electricity price for this Tuesday will be 142.76% more expensive than on May 31, 2021 at 88.08 Euro/MWh.
‘Pool’ prices have a direct impact on the regulated rate – the so-called PVPC – at which nearly 11 million households are covered in the country, and serve as a benchmark for the other 17 million that are shrinking their supply. in the free market.
In fact, the National Markets and Competition Commission (CNMC) confirmed that in 2021, around 1.25 million people switched from PVPC to a free market rate at a fixed price, within the framework of the energy’s upward spiral.
Gas is 600 million more expensive in Spain than in Portugal
On 14 May, the Official State Gazette (BOE) published the Royal Decree setting the mechanism for limiting the gas price for electricity generation to an average of 48.8 euros per megawatt hour (MWh) over a twelve-month period. covers the next winter when energy prices are more expensive.
However, the mechanism, although published as a Royal Decree, awaits the official decision of Brussels and will be initialed by the Ecological Transition order for its implementation. Industry head Reyes Maroto expects Brussels to approve the mechanism this week.
In its calculations, the government limits the discount to the average electricity consumer covered by the PVPC regulated rate to 15.3% during the 12-month implementation. As stated in Europa Press’s impact report accompanying the decree, the approved ceiling for electricity generation from natural gas
For the industrial consumer who is fully exposed to the spot price, the Government estimates between 18% and 20% reduction in bill emitted in the first month of the mechanism between 15% and 17% and between 13% and 15% in 2018. latter.
Even so, Teresa Ribera, Minister for the Ecological Transition and Demographic Challenge, acknowledged on Monday that there is some “uncertainty” in calculating the exact fall in the price of electricity once the gas cap for electricity generation comes into effect. however, he claims the Executive’s forecast is to fluctuate between 15% and 20%.
Under the gas ceiling, a measure adopted by both Spain and Portugal, Spanish consumers may incur approximately 600 million Euros more costs than Portugal due to the implementation of this mechanism.Based on industry forecasts provided to Europa Press.
This is because the extension of electricity futures contracts in Spain, the nuances and posteriori, clarify the resources of the sector.