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The price of electricity will fall 22.48% this Saturday, to 153.85 euros/MWh

MADRID, 15 (EUROPE PRESS)

The average price of electricity in the wholesale market will fall 22.48% on Saturday compared to today, specifically, to 153.85 euros megawatt hour (MWh), which accumulates its fourth consecutive day of declines.

Thus, the average price of the ‘pool’ for this Saturday will be 44.62 euros cheaper than today’s 198.47 euros/MWh, according to data published by the Iberian Energy Market Operator (OMIE) collected by Europa Press.

The maximum price of electricity for this Saturday will be between 00:00 and 01:00, with 222.43 euros/MWh, and the minimum, 40.32 euros/MWh, will be registered between 15:00 and 16:00.

Compared to just a year ago, the pool price for this Saturday will be 123.19% higher than the 68.93 euros/MWh of April 16, 2021.

The prices of the ‘pool’ have a direct impact on the regulated rate -the so-called PVPC-, to which almost 11 million households in the country are covered, and serve as a reference for the other 17 million who have contracted their supply in the free market .

In fact, the National Commission of Markets and Competition (CNMC) has verified that in 2021, in the framework of the upward spiral of energy, around 1.25 million people switched from the PVPC to a rate in the free market at a fixed price.

MEASURES TO CHEAPER THE RECEIPT

On March 29, the Government approved a national plan to deal with the impact of the war in Ukraine that includes, among other measures, the extension of the tax reduction on taxes levied on electricity bills until next March 30. June, as well as the extension of the electricity social voucher to reach 1.9 million beneficiary households.

In addition, an early and extraordinary update of the regulated remuneration regime for renewables, cogeneration and waste (Recore) was adopted with an adjustment of 1,800 million euros with which the charges on the electricity bill are lowered.

Another of the measures agreed by the Executive was an extension until June 30 of the reduction of gas to reduce extraordinary profits in the electricity market, expanding its scope of application to energy contracted on a term basis and at a fixed price from the entry of the norm, if said price is higher than 67 euros/MWh.

Likewise, the governments of Spain and Portugal have submitted a preliminary proposal to the European Commission to establish a reference price for gas of 30 euros per MWh in order to lower the price of electricity.