this average electricity price for customers with fee arrangements Depending on the wholesale market, Tuesday will drop 6.95% from this Monday, up to €121.18 per megawatt hour (MWh), which would mean a new minimum so far in December.
At the auction, average price of light in wholesale market – the so-called ‘pool’ – for this Tuesday 97.69 Euro/MWh. Thus, the maximum price will be recorded as 147 Euro/MWh between 14:00 and 17:00, and at least 4.11 Euro/MWh in the first six hours of the day. Market Operator Ibérico de Energía (OMIE) convened by Europa Press.
These low prices the wholesale market will be motivated by the high availability of renewable energies in the ‘mix’ in the early hours of the day, Wind power in particular, due to storm Efraín, which brought a strong storm of rain and winds to much of Spain.
This is the price of the pool. Compensation to be paid to gas companies by consumers benefiting from the measure is added, regulated tariff (PVPC) consumers or those who, despite being in the free market, have an indexed tariff of 23.49 Euro/MWh.
51.42% less than applying the measure
In the absence of an ‘Iberian exemption’ mechanism to limit the price of gas for electricity generation, electricity in Spain would cost on average 249.49 Euro/MWh, which is 128.31 Euro/MWh more than the compensation awarded to customers in Spain. So the regulated rate that will pay 51.42% less on average.
The ‘Iberian mechanism’ that came into force on 15 JuneLimits gas price for electricity generation to an average of 48.8 euros per MWh for a period of twelve months, thus covering the coming winter, the period when energy prices are most expensive.
Special, ‘Iberian exception’ sets a path for natural gas at a price of 40 euros/MWh for electricity generation in the first six months A monthly increase of five euro/MWh until the end of the measure – until 15 December – and then.