MADRID/LOGROO, 3 (PRESS EUROPE)
The average price of electricity for regulated rate customers linked to the wholesale market will drop this Saturday by 12.4% compared to Friday, to 191.14 euros per megawatt hour (MWh).
In the auction, the average price of electricity in the wholesale market – the so-called ‘pool’ – settled this Saturday at 120.02 euros/MWh. Therefore, the maximum price will be recorded between 20:00 and 21:00, with 145.9 euros/MWh, while the daily minimum, of 103.48 euros/MWh, will be given between 3:00 and 4: 00 am, according to provisional data from the operator of the Iberian energy market (OMIE) collected by Europa Press.
To this ‘pool’ price is added the indemnity to the gas companies which must be paid by the consumers who are beneficiaries of the measure, consumers of the regulated tariff (PVPC) or by those who, despite being on the free market, have an indexed tariff, which for this Saturday it will be 71.12 euros/MWh.
20.7% LESS THAN WITHOUT APPLYING THE MEASURE
In the absence of the “Iberian exception” mechanism to limit the price of gas for electricity generation, the price of electricity in Spain would average around €241.13/MWh, or around €50/MWh more compared to the compensation of the regulated rate for customers, who will thus pay an average of 20.7% less.
The ‘Iberian mechanism’, which came into force on 15 June, limits the price of gas for the production of electricity to an average of 48.8 euros per MWh for a twelve-month period, thus covering next winter, a period in which energy prices are more expensive.
In particular, the ‘Iberian exception’ provides for a path for natural gas for the production of electricity from a price of 40 euros/MWh in the first six months –until 15 December–, and subsequently, a monthly increase of five euro/MWh until the end of the measure.
