The price of electricity will drop by 11.9% this Sunday and fall below 200 Euro/MWh

Average electricity price for regulated rate customers connected to the wholesale market It will drop 11.9% on Sunday compared to this Saturday.Up to €198.03 per megawatt hour (MWh), according to provisional data from the Iberian Energy Market Operator (OMIE) collected by Europa Press.

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. .

Average price of electricity at auction in the wholesale market –the so-called ‘pool’– set for this Sunday 113.09 euro/MWh. this Maximum price will register here 10:00 – 23:00With 183.03 euro/MWh, minimum amount will be given between 80 euro/MWh for the day 10:00 and 11:00.

‘pool’ is added to this price Compensation of 84.94 euro/MWh to gas companies Amounts payable by consumers benefiting from the measure, regulated rate (PVPC) consumers, or those with an indexed rate despite being in the free market.

21.4% less without action

In the absence of the ‘Iberian exception’ mechanism that limits the price of gas for electricity generation, the price of electricity in Spain would average 252.11 euro/MWh, which means: around 54 euro/MWh more Hence, more than compensation for regulated rate customers who will pay about 21.4% less on average.

The Iberian mechanism, which came into effect on June 15, limits the price of gas for electricity generation as follows: Average 48.8 Euros per MWh for a period of twelve months, thus covering the next winter when energy prices are more expensive.

Specifically, the ‘Iberian exception’ sets a path for natural gas for electricity generation, with an increase of €40/MWh in the first six months and then five euros/MWh monthly until the end of the measure.

Source: Informacion

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