The price of electricity will drop 18.5% to 172.64 euros this Sunday

Average electricity price for regulated rate customers connected to the wholesale market This Sunday will drop 18.5% from this Saturday to 172.64 euros per megawatt hour (MWh).

This decrease coincides with: falling demand for the weekend and the end of the heat wave.

This price for PVPC customers The product obtained by adding the average auction price in the wholesale market and the compensation to be paid by the demand to the combined cycle power plants For the ‘Iberian exception’ application to limit the price of gas for electricity generation.

In this way, it will cost megawatt-hours of electricity for the final consumer. €172.64Added to the pool price this Friday compared to 65.48 euros, after compensation of 50.03 euros to the gas companies.

This compensation has to be paid by consumers benefiting from the measure, consumers of the regulated rate (PVPC), or consumers with an indexed rate despite being in the free market.

At the auction, The average price of electricity in the wholesale market, called the ‘pool’, stands at 122.61 Euro/MWh for this Sunday.According to data from the Iberian Energy Market Operator (OMIE) collected by Europa Press, 23.93 euros lower than yesterday’s price (146.54 euro/MWh), a 16.33% decrease.

The maximum electricity price for this 19 June will be recorded at 250 Euro/MWh between 22:00 and 23:00, and between 16:00 and 23:00 with a minimum of 50 Euro/MWh for the day. 17:00

Compared to last year, prices have skyrocketed since eOn the same day in 2021, 87.22 Euro/MWh, 35.39 Euro less was paid in the electricity wholesale market. this sunday

29% less than applying the measure

In the absence of the ‘Iberian exception’ mechanism, whose correct implementation is overseen by the National Markets and Competition Commission (CNMC), which limits the price of gas for electricity generation, the price of electricity in Spain would average around 243 euros/MWh, which is about 71 euros/MWh from compensation for customers of the regulated tariff. MWh is more. so on average they will pay 29% less.

These prices are recorded. a context these days marked by the heat wave and high demandwith a very exceptional participation of gas power plants in production.

Actually, Natural gas demand for electricity generation is breaking records these days and gas prices continued to rise as Russia’s supply to the EU decreased.

Finally, the Iberian mechanism, which received the green light from Brussels last week, It limits the gas price for electricity generation to an average of 48.8 Euros per MWh over a twelve-month period.Thus, the coming winter covers a period when energy prices are more expensive.

Specifically, the ‘Iberian exception’ sets a path for natural gas for electricity generation at a price of 40 euros/MWh in the first six months, followed by a five-euro/MWh monthly increase until the end of the measure.

15% discount expected

State is limited to 15.3% of the reduction in receipt for the average electricity consumer covered by the regulated rate. PVPC during the 12-month implementation of the approved cap for electricity generation from natural gas, as outlined in the impact report accompanying the executive order and to which Europa Press has access.

For the industrial consumer who is fully exposed to the ‘spot’ price, the Government has envisaged a discount of between 18% and 20%.It varies between 15% and 17% in the first month of the mechanism, and between 13% and 15% in the last month.

Source: Informacion

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