Average electricity price for regulated rate customers connected to the wholesale market It will drop 11.5% on Thursday Up to 208.96 euros per megawatt hour (MWh) compared to this Wednesday, according to provisional data from the Iberian Energy Market Operator (OMIE) collected by Europa Press.
This price is the result of adding the auction average. wholesale market to the compensation to be paid to combined cycle power plants by the request for the application of the ‘Iberian exception’ to limit the gas price for electricity generation.
At auction, the average price of electricity on the wholesale market – the so-called ‘pool‘– it was at 134.67 euro/MWh this Thursday. The maximum price will be recorded at 189.33 Euro/MWh between 22:00 and 23:00, with a minimum of 98.6 Euro/MWh for the day between 17:00 and 18:00.
74.29 Euro/MWh compensation to be paid to the gas companies is added to this price of the ‘Pool’. consumers beneficiaries of the measure are consumers of the regulated rate (PVPC) or those who hold an indexed rate despite being in the free market.
Almost 40% 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 348.21 euro/MWh, which would be around 139.2 euro/MWh. customers adjusted rate, So on average they will pay almost 40% less.
‘Iberian mechanism’, The law, 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.
especially, ‘Iberian exception’ sets a path for natural gas to generate electricity at a price 40 €/MWh an increase of five Euro/MWh per month in the first six months and then until the end of the measure.
At a press conference this Wednesday, the government’s third vice-president and interior minister Ecological Transition and Demographic ChallengeTeresa Ribera guessed that the Iberian exception meant a savings. 1,383 million euros for Spanish consumers within the two-month validity period.
Ribera noted that this figure represents a savings. 22 million euros per day for Spanish society from the entry into force of the mechanism.
Source: Informacion
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