The average electricity price for regulated tariff customers connected to the wholesale market will drop by 8.84% compared to this Sunday to €261.67 per megawatt hour (MWh). Iberian Energy Market Operator Collected by (OMIE) Europa Press.
This price is the result of adding the auction average. wholesale market to compensation to be paid to combined cycle power plants by the request for the application of the ‘Iberian exception’ to limit the gas price for electricity generation.
At the auction, the average electricity price in the wholesale market – the so-called ‘pool’ – stood at 141.1 euros/MWh this Sunday. The maximum price will be recorded at 205.41 Euro/MWh between 00:00 and 01:00, while the minimum price for the day is, €25.09/MWh, It will be held between 17:00 – 18:00.
Compensation is added to this price of the ‘Pool’. €120.57/MWh To gas companies, regulated rate (PVPC) consumers, or those who have an indexed tariff despite being in the free market, which must be paid by consumers benefiting from the measure.
30% less than without measure
in the absence of mechanism ‘Iberian exception’ In order to limit the gas price for electricity generation, the electricity price in Spain will average around 373.19 Euro/MWh, which is approximately 111.52 Euro/MWh more than the regulated rate compensation to customers. On average, you pay 29.88% less.
The ‘Iberian mechanism’, which came into force on 15 June, limits the average price of gas for electricity generation. €48.8 per MWh for a period of twelve months, thus covering the next winter when energy prices are more expensive.
Specifically, it sets a path for the ‘Iberian exception’. natural gas 40 Euro/MWh electricity generation in the first six months and then 5 Euro/MWh monthly increase until the end of the measure.
Teresa Ribera, Third Vice-President of the Government and Minister for Ecological Transition and Demographic Challenge, estimated this week that the Iberian exemption meant savings of 1,383m euros for Spanish consumers over the two-month validity period.
Ribera noted that this figure represents a savings. 22 million euros per day for Spanish society from the entry into force of the mechanism.