The average electricity price for regulated rate customers linked to the wholesale market will drop on Saturday, July 1. This is 37.5% compared to Friday, up to 60.34 euros per megawatt hour (MWh).
So July will start with the lowest price for over a month, When 31.52 Euro/MWh was paid for electricity on 21 May. According to the time zones, the minimum price of 0 euro/MWh will be recorded between 15:00 and 17:00 when electricity will not be paid, and the maximum price will be recorded between 22:00 and 23:00. in the afternoon, with 120.2 euro/MWh.
The average of the electricity ‘pool’ in June was 93 Euro/MWh, compared to 169.63 Euro/MWh in the same month last year. To this average price of the “Pool” will be added compensation to the gas companies. must be paid by the consumers benefiting from the measure.regulated tariff (PVPC) consumers or consumers with indexed tariffs despite being in the free market but still 0 Euro/MWh, a situation that has been repeated since February 27.
After Spain and Portugal reached an agreement with the European Commission, the so-called ‘Iberian exception’ was extended until 31 December. Thus, it has been extended for seven months until the end of this year, and it has not been ignored that if the said framework is extended, it may be extended for a longer period.
Specifically, the agreement not only represents an extension of the Iberian exemption already implemented, but also includes some adjustments to accommodate it, such as the price reference, which has so far increased by five euros per month and will now be softer.
Price quoted in the original contract the average value of the gas reference was 48.8 Euro/MWh: It was 40 Euro/MWh for six months, then it increased by 5 Euro/MWh every month. It will now increase by 1.1 Euro/MWh compared to last April, resulting in 65 Euro/MWh.
The mechanism has not had any impact on marginal matching processes in wholesale markets since the end of February, as the price of natural gas has already fallen below the thresholds set for implementation, but an extension will allow if necessary. maintain a reasonable price that is not too dependent on the development of natural gas.