The price of electricity fell 5.4% to 214.66 euros on Saturday

For PVPC customers, this price is the result of adding the average auction price in the wholesale market to the compensation demand will pay to combined cycle plants. ‘Iberian exception’ application to limit gas price for electricity generation.

At the auction, the average electricity price in the wholesale market — the so-called ‘pool’ — will be at 128.70 euro/MWh this Saturday, so 8.9 euros less That’s more than (137.59 Euro/MWh) in price this Friday, and a 6.4% drop, according to Iberian Energy Market Operator (OMIE) data collected by the EP.

this The maximum electricity price for this 25 June will be recorded between 01:00 and 02:00.With 185 Euro/MWh, a minimum of 65.71 Euro/MWh for the day will be between 17:00 and 18:00.

To this pool price is added 85.96 euro/MWh of compensation for gas companies versus 89.31 euro/MWh this Friday. 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.

21% less

In the absence of the ‘Iberian exception’ mechanism that limits the gas price for electricity generation, the electricity price in Spain would average around 271.95 euro/MWh; this is about 57 euro/MWh more than compensation. Customers of the regulated rate will therefore pay approx. 21% less than average.

Assumes electricity price for customers of regulated rate this Friday compared to a year ago 148% more more than the 86.57 Euro/MWh the ‘pool’ marked on average for 25 June 2022.

The Iberian mechanism, which came into force on 15 June, limits the gas price for electricity generation to an average of 48.8 euros per MWh over a twelve-month period, thus covering the coming winter when energy prices are more expensive. .

Special, Sets a path for the ‘Iberian exception’ natural gas electricity generation at a price of 40 Euro/MWh in the first six months, followed by an increase of 5 Euro/MWh per month until the end of the measure.

15% discount on receipt

Based on the evidence in effect, the Government, in its calculations, limited the reduction in the average electricity consumer’s bill 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. The report that came with the executive order and which the EP has access to.

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

‘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.

In addition, Head of Government Pedro Sánchez announced on Wednesday that the decree that the Cabinet of Ministers will approve this Saturday to expand measures to mitigate the economic effects of the war in Ukraine will include a 10% reduction in VAT. 5% in electricity. A year ago this tax reduction from 21% to 10% was approved and will now be reduced to 5%.