Expecting Spain and Portugal to impose an upper limit on the price of gas used to generate electricity, maximum limit electricity market According to El Periódico de Catalunya, a media owned by the same publishing group as this newspaper, the current megawatt hour will rise from 3,000 euros per megawatt hour to 4,000 euros per megawatt hour, market sources confirm. This change will take effect in about four weeks and all european marketsincluding Spanish and Portuguese.
This is a technical issue, not a political one. European regulations say that if Market price exceeds 60% of the specified maximum value (in this case 3,000 euros per megawatt-hour) “at least market time unit (hour) in a day over a region individual auction or in several areas auction ends change this is the highest price. And this happened for the first time in Europe on Monday, April 4, when the price of electricity in the French wholesale market was close to 3,000 euros per megawatt hour between 7 and 9 am, with prices between 2,712.99 and 2,987.78 euros. for megawatt-hour drop in temperatures and break in half nuclear power plants French
Then the mechanism came into play, forcing European markets to increase this maximum price. €1,000 per megawatt-hour and thus, from the “following five weeks” when the set threshold is exceeded, the current 3,000 euros are moved to 4,000 euros. This will be done on 9 May, and the announcement of the change by electricity market operators will be made next Monday, 11 April.
this minimum price a figure that will remain unchanged at -500 euros per megawatt-hour, a figure that no other country has come close to at the moment; although there are many Germany, France or Belgium They knew about the fact that they had negative hourly average prices, and even one day negative average daily prices.
in Spain, highest price recorded on March 8, the day reached in one hour. highest average daily price To date (€544.98 per megawatt), close to €700 per megawatt hour between 7pm and 8pm, an unprecedented figure a day later. natural gas price also Iberian gas market hits record at the end of 214.36 euros per megawatt hour, ten times higher than the natural gas average Since the launch of this market.
Limit price on the wholesale market until July 6 last year Spanish was a maximum of 180 euros and a minimum of 0 euros per megawatt hour, iberian anomaly this is not reached exceed By September 16, the maximum value was different and the wholesale market reached 188.18 euros per megawatt hour, but this was not even touched. The historical record up to that date was 103.76 euros per megawatt-hour on January 11, 2002.
The European Commission had been ‘following’ Spain for some time to change these boundaries and thus harmonize all European markets. Market operator OMIE held several public consultations in 2019 and 2020 to test the pulse of different agents. The first of these consultations had an “uneven” outcome among its participants: “‘Traders’ and dominant groups vertically integrated companies found this insufficient and preferred to equate their bid limits to the current limit (-€500/MWh and -€3,000/MWh). independent marketerslarge consumers and some representatives chose to maintain the progressive update rule at a lower value” The National Markets and Competition Commission (CNMC) rated the proposal as “adequate” because it “allows for greater alignment” with the rest of Europe.