The price of electricity rose 17% this Thursday to 292.61 Euro/MWh

The average electricity price for regulated rate customers tied to the wholesale market will rise again on Thursday. 16.96% increase compared to this Wednesdayup to €292.61 per megawatt hour (MWh), according to provisional data from the Iberian Energy Market Operator (OMIE) collected by Europa Press.

In this way, the price for PVPC customers will rise to its highest level since 16 July last year when it exceeded 300 Euro/MWh in the midst of a heatwave.

This price is the result of adding the average auction price in the wholesale market to the compensation that the demand will pay to the combined cycle power plants for the application of the ‘Iberian exemption’ to limit the gas price for electricity generation. .

In the auction, the average price of electricity in the wholesale market called ‘pool’ was determined. Stayed at 169.86 euro/MWh on Thursday. The maximum price will be recorded in the first hour of the day, with 180 Euro/MWhMinimum 151.17 euro/MWh for the day will be between 19:00 and 20:00.

To this price of the ‘Pool’ is added the compensation of 122.75 Euro/MWh, which must be paid to gas companies although consumers benefiting from the measure, regulated tariff (PVPC) consumers or taxpayers. In the free market, it has an indexed rate.

Gas price, maximum

These electricity price levels are recorded by Gazprom with maximum levels of natural gas in the context of supply problems in the Old Continent and the consumption reduction agreed at the European level.

Thus, the price of natural gas was listed on the Mibgas market this Wednesday. At 134 Euros per MWhEuropean natural gas futures contracts traded on the Dutch platform TTF in exchange, after recording a rise of 11.5% Around 200 Euros per MWh.

19% less than applying the average

In the absence of the ‘Iberian exemption’ mechanism that limits the price of gas for electricity generation, the electricity price in Spain will average around 361.51 euro/MWh, which is about 69 euro/MWh more than compensation to customers. at the regulated rate which will pay as follows on average about 19% less.

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. .

Specifically, the ‘Iberian exception’ specifies a way for natural gas to generate electricity. a price of 40 Euro/MWh in the first six monthsfollowed by an increase of five euro/MWh per month until the end of the measure.

Source: Informacion

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