The average electricity price in the wholesale market will rise again this Monday. 2.38% increase on Sunday and will be 163 Euros per megawatt hour (MWh).
In particular, according to data collected by the Iberian Energy Market Operator (OMIE), the average price of the ‘pool’ for this Monday will be 163.13 euros/MWh, four euros more expensive than Sunday’s 159.33 euros/MWh. European Press.
In this way, the wholesale electricity market maintains the ceasefire that began on Friday, when it recorded a price of -154.7 euro/MWh, the lowest since February 19 before the war started in Ukraine.
Maximum electricity price for this Monday 20:00 and 21:00 with 270.2 Euro/MWh, and a minimum of 55.1 Euro/MWh will be between 15:00 and 16:00.
Compared to just one year ago, the pool price for this Monday will be 213.65% higher than on April 11, 2021 at 52.01 Euro/MWh.
‘Pool’ prices have a direct impact on the regulated rate — the so-called PVPC — at which approximately 11 million households are covered in the country and serve as a benchmark for the other 17 million contracted. their supply in the free market.
In fact, the National Markets and Competition Commission (CNMC) confirmed that in 2021, around 1.25 million people switched from PVPC to a free market rate at a fixed price, within the framework of the energy’s upward spiral.
On 29 March, the Government National plan to deal with the impact of the war in Ukraine This includes, among other measures, the extension of the tax cut on taxes on the electricity bill until 30 June and the extension of the electricity social bond to reach 1.9 million beneficiary households.
30 euro petrol cap
Also, governments Spain and Portugal submitted bids A proposal to the European Commission to set a gas reference price of 30 Euros per MWh to lower the electricity price.
Third Vice President and Minister of Ecological Transition, Theresa Riveramade it clear that this was a joint proposal it has been both formulated by governments and negotiated with European authorities.
Ribera pointed out that if the offer is accepted, the electricity price may be capped “within three or four weeks”, and that “you have to be patient” for this because it is necessary during this time. The joint “joins well” to the proposal and “the technical concerns of good functioning that may exist are well reflected”.
If the proposal continues, it will have repercussions on pool prices due to its impact on the daily sales offers of gas-fired combined cycle power plants in the wholesale market, among other things.