Average electricity price for regulated rate customers connected to the wholesale market will drop 12.4% this Thursdaythus moving away from the maximums recorded in the last two days, but will remain above 380 euros per megawatt hour (MWh).
Special, the price will be 382.11 euro/MWh, This is 54.14 euros lower than the 436.25 euros/MWh he pointed out for Wednesday. highest level since gas cap went into effect in mid-JuneAccording to provisional data from the Iberian Energy Market Operator (OMIE) collected by Europa Press.
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 set at 161.88 Euro/MWh for this Thursday. this Maximum price will be recorded between 10:00 and 23:00With 209.26 euro/MWh, minimum amount 133.1 euro/MWh will be given for the day between 17:00 – 18:00.
‘Pool’ at this price 220.23 euro/MWh compensation added 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.
This increase in electricity prices in recent days was mainly due to the fact that natural gas price levels remained at their maximum levels. With Gazprom’s announcement that it will be cut from August 31 and pumping gas into Germany for three days.
This Wednesday, gas futures contracts in the Dutch TTF market were up more than 5% to over 287 euro/MWh.
17.6% less than applying the measure
In the absence of the ‘Iberian exception’ mechanism that limits the gas price for electricity generation, the price of electricity in Spain will average around 463.98 Euro/MWh, which means around 81.8 euro/MWh more Thus, more than compensation for regulated rate customers who will pay 17.6% less on average.
Electricity market prices this Thursday They also relax in the rest of European countries Something about the last two days. Thus, in case France over 630 euro/MWhIt will be 599 euro/MWh in Germany and 588 and 585 euro/MWh in Belgium and the Netherlands, respectively.
The ‘Iberian mechanism’, which came into force on 15 June, limits its price gas Average 48.8 Euros per MWh for electricity generation 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.
Teresa Ribera, the government’s third vice-president and minister for Ecological Transition and Demographic Struggle, estimated last week that the ‘Iberian exception’ meant savings of 1,383m euros for Spanish consumers in the first two months of its validity.
Rivera stated this figure represents a saving of 22 million Euros per day for Spanish society from the entry into force of the mechanism.