Average electricity price for regulated rate customers connected to the wholesale market will increase by 2% this Sunday compared to this SaturdayUp to €240.45 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 of the wholesale market auction 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 the ‘pool’e was 123.98 euro/MWh this Sunday. pmaximum power will register Between 10:00 – 23:00with 175 euro/MWh minimum will be given between 72.08 euro/MWh for the day 11:00 and 12:00.
‘Pool’ at this price 116.47 euro/MWh compensation added 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.
12% less than applying the measure
Electricity price in Spain in absence of ‘Iberian exception’ mechanism that limits gas price for electricity generation on average it would be 281.91 euro/MWh, ie about 34 euro/MWh more Thus, more than compensation for regulated rate customers who will pay 12% less on average.
The ‘Iberian mechanism’, which came into force on 15 June, Limits gas price for electricity generation to an average of 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’ is natural gas Electricity generation at a price of 40 euro/MWh an increase of five Euro/MWh per month in the first six months and then until the end of the measure.