The average price of electricity in the wholesale market will return to this Monday €200/MWhAccording to data published by the Iberian Energy Market Operator (OMIE) and collected by Europa Press.
To be specific, the average electricity price this Monday will be 200.62 Euro/MWh, 20% more than on this Sunday (167.06 Euro/MWh), an increase of 5 Euro/MWh compared to Monday last week.
The maximum electricity price this June 13 will be recorded between: 21:00 and 22:00It will be between 238.40 euro/MWh and a minimum of 160.5 euro/MWh for the day. 03.00 and 04.00 hours.
Compared to a year ago, the average electricity price for this Monday will be 153.31% more expensive than 79.20 Euro/MWh on 13 June 2021.
‘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, in the framework of the energy upside spiral.
In mid-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) for a twelve-month period, thus giving rise to a more expensive energy price. It also covers the next winter.
Finally, the mechanism received the green light from Brussels on Wednesday and was initialed by the Ecological Transition order for its implementation this Thursday.
FROM JUNE 15
The so-called ‘Iberian exception’ will take effect from the next electricity market auction on Tuesday, June 14th, and will affect the next day, the wholesale electricity market matching to set prices on Wednesday, June 15th. .
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 a reduction of between 18% and 20% in the bill emitted in the first month of the mechanism between 15% and 17% and between 13% and 15%. % in the next, in another, in the next.
electricity price calculator
Click on any device in our calculator and it will show you the price per kWh.
STABILITY SINCE STABILITY
On February 24, when the Russian invasion of Ukraine began, the wholesale market price was 205.6 euro/MWh, and since then there has been a daily rise in price, reaching its peak on March 8, when the price was at an absolute level. It broke a record with 544.98 euro/MWh.
However, since 12 March, the wholesale price has been hovering around 250 euro/Mwh, but continued to decline in the last five days and fell below 230 euros.
MARCH THE MOST EXPENSIVE MONTH IN HISTORY
On February 24, when the Russian invasion of Ukraine began, the wholesale market price was 205.6 euro/MWh, and since then there has been a daily rise in price, reaching its peak on March 8, when the price was at an absolute level. It broke a record with 544.98 euro/MWh.
In this context, the average price of the wholesale market in March was 283.30 euros/MWh, 239 euros/MWh, which was the most expensive month in history up to that time, and 283.30 euros/MWh, 55 euros above the December 2021 average.
Wholesalers have direct influence on the regulated tariff, or PVPC, which covers approximately 11 million consumers in Spain, and acts as a reference for the other 17 million contracting their supplies in the open market.
The military conflict between Ukraine and Russia could push energy prices higher in the coming weeks, especially when it comes to gas, as Russia’s imports to Europe risk slowing due to European Union sanctions.
In order to soften the impact of the increase in electricity prices on consumers, the Government extended the tax cut on taxes on electricity bills until 30 June.
The rise in prices affecting a large part of Europe is due, among other factors, to the higher cost in international markets and the rise in value of the gas used in combined cycle power plants, which determines the market price in most hours. carbon dioxide (CO2) emission rights.
To soften the impact of the rise in electricity prices on consumers, the Government extended the tax cut on taxes on electricity bills for the first four months.
The rise in prices affecting a large part of Europe is due, among other factors, to the higher cost in international markets and the rise in value of the gas used in combined cycle power plants, which determines the market price in most hours. carbon dioxide (CO2) emission rights.
The military conflict between the two former Soviet countries could push energy prices higher in the coming weeks, especially when it comes to gas, as Russia’s imports to Europe risk being slowed by Russia’s sanctions. European Union.
2021 became the most expensive year of electricity
The light closed 2021 with: most expensive year historical seriesDue to the upward spiral recorded in the ‘pool’ in the second half, it was realized at an average price of 111.93 Euro/MWh.
this electricity price The average price of the daily market last January was 201.72 euros/MWh, 235.3 percent higher than the average price of the same month last year and 15.7% lower than in December 2021.
The government extended the reduction of taxes included in the tariff until April 30. electricity bill all consumers to pay to mitigate the negative impact of rising electricity prices on citizens.
In particular, the reduction of VAT from 21% to 10% and special electricity tax from the legal minimum of 5.11 to 0.5% has been extended until 30 April. However, the suspension of the 7% production tax paid by companies will only last until March 31st for now.