this average electricity price in the wholesale market, this market will decrease by 5.01% Compared to Saturday, what level does it stand below?200 euros per megawatt hour (MWh).
Specifically, according to data published by the Iberian Market Operator of Energy (OMIE) and collected by Europa Press, the average electricity price will be 193.65 euros/MWh this Sunday, about 10 euros cheaper than this Saturday (203.86 euros).
a) Yes, The maximum electricity price for this June 5th will be recorded at 245 Euros between 22:00 and 23:00./MWh will occur between 16:00 and 17:00, with a minimum of 153.51 euro/MWh for the day.
Compared to a year ago, the average electricity price for this Saturday will be 154.23% more expensive than 76.17 Euro/MWh on 5 June 2021.
Pool prices have a direct impact on the regulated rate—the so-called PVPC—which covers around 11 million households in the country, and serves as a benchmark for the other 17 million that are shrinking 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 14 May, the Official State Gazette (BOE) published the Royal Decree setting the mechanism for limiting the gas price for electricity generation to an average of 48.8 euros per megawatt hour (MWh) over a twelve-month period. It covers the next winter when energy prices are more expensive.
However, the mechanism, although published as a Royal Decree, awaits the official decision of Brussels and will be initialed by the Ecological Transition order for its implementation.
In its calculations, the government limits the discount to the average electricity consumer covered by the PVPC-regulated rate to 15.3% during the 12-month period after the application of the approved cap for electricity generation from natural gas. Legislative decree accessed by Europa Press.
For the industrial consumer who is fully exposed to the spot price, The government estimates discount on invoice Between 18% and 20%, It varies between 15% and 17% in the first month of the mechanism and between 13% and 15% in the last month of the mechanism.
Despite this, Teresa Ribera, Minister for the Ecological Transition and Demographic Struggle, acknowledged that there is some “uncertainty” in calculating the exact fall in the electricity price after the gas cap for electricity generation comes into effect, but remains. The Executive’s forecast is that it will fluctuate between 15% and 20%.