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Monday, August 15, 2022

The price of electricity will fall by 11.9% this Sunday and will be below 200 euros/MWh

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The average price of electricity for regulated customers connected to the wholesale market will fall by 11.9% to €198.03 per megawatt-hour (MWh) on Sunday compared to this Saturday, according to preliminary data from market operator Iberian Energy (OMIE). , which were collected from Europa-Press.

This price is obtained by adding the average auction price on the wholesale market to the compensation payment demand will pay to combined cycle power plants for applying the “Iberian exception” capping the price of gas for electricity generation.

In the auction, the average electricity price on the wholesale market – the so-called “pool” – for this Sunday is 113.09 euros/MWh. The maximum price will be registered from 10:00 p.m. to 11:00 p.m. at 183.03 euros/MWh, while the daily minimum will be between 10:00 a.m. and 11:00 a.m. at 80 euros/MWh.

To this price of the “pool” is added the compensation payment of 84.94 euros/MWh to the gas companies, paid by the consumers who are beneficiaries of the measure, the consumers of the regulated tariff (PVPC) or those who, despite being on the are open market, they have an indexed interest rate.


Without the “Iberian Exception” mechanism to limit the price of gas for electricity production, the average price of electricity in Spain would be around 252.11 euros/MWh, which is around 54 euros/MWh more than the compensation for customers of the regulated tariff, who thus pays around 21.4% less on average.

The Iberian mechanism, which came into force on June 15, limits the gas price for electricity generation to an average of 48.8 euros per MWh over a twelve-month period, covering the coming winter when energy prices are more expensive.

Specifically, the “Iberian exception” provides that natural gas for electricity generation will be increased at a price of 40 euros/MWh in the first six months and then by 5 euros/MWh monthly until the end of the measure.

Source europapress.es

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