Average electricity price for regulated rate customers connected to the wholesale market It will drop 3.9% on Thursday Up to €253.77 per megawatt hour (MWh) compared to this Wednesday, according to provisional data from the Iberian Energy Market Operator (OMIE) collected by Europa Press.
In this way, after three days of increases so far this week, the electricity price is it will cut this thursday with the uptrend of the last days.
This price is the result of adding the average of the wholesale market auction to the compensation that the demand will pay to the combined cycle power plants for the application of the ‘Iberian exemption’ to limit the gas price for electricity generation.
At the auction, the average electricity price in the wholesale market – the so-called ‘pool’ – was 147.23 Euro/MWh this Thursday. this Maximum price will register here 01:00 – 02:00with 170 euro/MWh minimum amount will be between 124.99 euro/MWh for the day 19:00 and 20:00.
To this price of the ‘Pool’ is added a compensation of 106.54 euros/MWh, which must be paid to the gas companies, whether they are consumers, regulated tariff (PVPC) consumers, or gas companies benefiting from the measure. In the free market, it has an indexed rate.
17.6% less than applying the measure
Electricity price in Spain in absence of ‘Iberian exception’ mechanism that limits gas price for electricity generation an average of 308.24 euro/MWh, This is approximately 54.47 Euro/MWh more than the regulated rate’s compensation for customers. Thus, on average, they will pay 17.6% less.
The Iberian mechanism, which came into force on 15 June, Limits gas price for electricity generation to an average of 48.8 Euros per MWh for a period of twelve months, thus covering the next winter when energy prices are more expensive.
Specifically, the ‘Iberian exception’ sets a path for natural gas for electricity generation, with an increase of €40/MWh in the first six months and then five euros/MWh monthly until the end of the measure.