this average electricity price for regulated rate customers linked to the wholesale market It will drop 16.7% on Friday until this thursday 318.29 € Per megawatt hour (MWh) according to provisional data from the Iberian Energy Market Operator (OMIE) collected by the EP.
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.
This way the price the second day in a row it will drop and move away from the peaks It rose to 436.25 euro/MWh since the entry into force of the ‘Iberian exception’ they marked on Tuesday and Wednesday.
At the auction, the average price of electricity in the wholesale market – the so-called ‘pool’ – was set at 175.33 Euro/MWh for this Friday. this the maximum price will be recorded at 243.86 Euro/MWh between 22:00 and 23:00., a minimum of 125 euro/MWh for the day will be between 04:00 and 05:00. To this ‘pool’ price is added the 142.96 Euro/MWh compensation payable to gas companies, whether consumers benefiting from the measure, regulated rate (PVPC) consumers or taxpayers. In the free market, it has an indexed rate.
East spiral of high prices The biggest reason for the light this week, as Gazprom announced that it will cut off gas pumping to Germany for three days from 31 August, was that natural gas prices were at their maximum.
Thus, the price of natural gas in the European reference market – Dutch TTF – rose above 310 euro/MWh this Thursday. In the Iberian market (Mibgas), the price of natural gas was recorded at 208.62 euro/MWh, up 7.8% this Thursday.
36% less
In the absence of the ‘Iberian exemption’ mechanism that limits the price of gas for electricity generation, the price of electricity in Spain will average 500.13 Euro/MWh. More than compensation 181.8 Euro/MWh for regulated rate customers who will pay as follows 36.3% less on average
Inside rest of europeelectricity market prices this friday they shoot again. Thus, in the case of France it is above 706 Euro/MWh, in Germany it is 699 Euro/MWh and in Belgium and the Netherlands it is 700 and 693 Euro/MWh respectively.
The ‘Iberian mechanism’, which came into effect 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 rise. it is 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, guessed last week that the ‘Iberian exception’ made sense. 1.383 million euro savings In the first two months of its validity for Spanish consumers. Ribera stated that this figure represents a saving of 22 million Euros per day for the Spanish society since the mechanism came into effect.