Electricity fell 4% this Wednesday to 185.45 Euro/MWh

Specifically, the average electricity price this Wednesday €185,45/MWhAccording to data published by the Iberian Energy Market Operator (OMIE) and collected by Europa Press, it’s around 7.87 euros cheaper than this Tuesday’s price (193.32 euros).

Thus, the maximum electricity price on June 8 will be recorded at 215.01 Euro/MWh between 09:00 and 10:00, and the minimum for the day is 160.23 Euro/MWh between 17:00 and 18:00: 00:00

Compared to a year ago, the average electricity price for this Wednesday will be 125.25% more expensive than 82.33 Euro/MWh on 8 June 2021.

‘Pool’ prices have a direct impact on the regulated rate — the so-called PVPC — at which approximately 11 million households are covered in the country and serve as a benchmark for the other 17 million contracted. 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.

According to data from Facua-Consumidores en Acción on the evolution of the regulated rate (PVPC), the average user’s electricity bill last May reached 120.68 euros, 46.9% above the 82.13 euros in the same month last year. The receipt for last month was the sixth highest in history.

Gas cap awaiting approval

In mid-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, thus giving rise to a more expensive energy price. It also covers the next winter.

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.

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 period after the application of the approved cap for electricity generation from natural gas. Legislative decree accessed by Europa Press.

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.

Despite this, Teresa Ribera, Minister for the Ecological Transition and Demographic Struggle, acknowledged that there is some “uncertainty” in calculating the exact fall in the electricity price after the gas cap for electricity generation comes into effect, but remains. The Executive’s forecast is that it will fluctuate between 15% and 20%.