The average electricity price for regulated rate customers connected to the wholesale market was up 3.59% to this Monday compared to this Sunday. €271.06 per megawatt hour (MWh)According to provisional data from the Iberian Energy Market Operator (OMIE) collected by Europa Press.
This price is the result of adding the average. Auction to the 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 in the wholesale market.
Average price of electricity at auction wholesale market –the so-called ‘pool’– stands at 176.58 euro/MWh for this Monday. The maximum price will be recorded between 21.00 and 22.00 with 250 Euro/MWh, with a minimum of 125 Euro/MWh for the day between 11:00 and 12:00.
Price is added to this ‘pool’ compensation Consumers benefiting from the measure are 94.48 Euro/MWh to gas companies, which must be paid by regulated rate (PVPC) consumers or by consumers with indexed rate despite being in the free market.
34.5% less
In the absence of the ‘Iberian exception’ mechanism that limits the gas price for electricity generation, the electricity price in Spain would average around 414.34 euro/MWh, which is around 1.€43/MWh more Thus, more than compensation for regulated rate customers who will pay 34.5% less on average.
this ‘Iberian mechanism’, The law, which came into force on 15 June, limits the gas price for electricity generation to an average of 48.8 Euros per MWh over a twelve-month period, thus covering the coming winter when energy prices are more expensive.
especially, ‘Iberian exception’ It determines the route of natural gas for electricity generation at a price of 40 euros/MWh in the first six months, followed by an increase of five euros/MWh per month 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 € Newspapers for the Spanish community since the introduction of the mechanism.