MADRID, 3 (EUROPA PRESS)
The average price of electricity for regulated rate customers linked to the wholesale market will rise this Sunday by 27.63% compared to Saturday, up to 243.95 euros per megawatt hour (MWh), which will be the highest level in the last two months, since the beginning of October.
In the auction, the average price of light in the wholesale market – the so-called ‘pool’ – stands this Sunday at 189.81 euros/MWh. Thus, the maximum price will be registered between 8:00 p.m. and 9:00 p.m., with 256.68 euros/MWh, while the minimum for the day, of 168 euros/MWh, will be given between 4:00 a.m. and 6:00 a.m., according to the data. provisional statements of the Iberian Energy Market Operator (OMIE) collected by Europa Press.
To this ‘pool’ price is added the compensation to the gas companies that must be paid by consumers who are beneficiaries of the measure, consumers of the regulated tariff (PVPC) or those who, despite being on the free market, have an indexed rate, which for this Sunday will be 54.14 euros/MWh.
19.4% LESS THAN WITHOUT APPLYING THE MEASURE
In the absence of the ‘Iberian exception’ mechanism to cap the price of gas for electricity generation, the price of electricity in Spain would be around 302.66 euros/MWh on average, which is around 58 euros/MWh more than with compensation for regulated rate customers, who will thus pay 19.4% less on average.
The ‘Iberian mechanism’, which came into force on June 15, limits the price of gas for electricity generation to an average of 48.8 euros per MWh for a period of twelve months, thus covering next winter, a period in which energy prices are more expensive.
Specifically, the ‘Iberian exception’ sets a path for natural gas for electricity generation from a price of 40 euros/MWh in the initial six months –until December 15–, and subsequently, a monthly increase of five euros/ MWh until the end of the measure.