The maximum cost will be recorded from 1 a.m. to 2 a.m., with 170 euros/MWh, while the minimum will be between 7 p.m. and 8 p.m., with 124.99 euros/MWh,
The average price of electricity for customers at the regulated rate connected to the wholesale market will fall 3.9% on Thursday compared to this Wednesday, up to 253.77 euros per megawatt hour (MWh), according to provisional data from the Iberian Energy Market Operator (OMIE) collected by Europa Press.
Thus, after three days of increases so far this week, the price of electricity will cut this Thursday with the uptrend of the past few days.
This price is the result of adding the average auction on the wholesale market to the compensation that demand will pay to combined cycle power plants for the application of the “Iberian exception” to cap the price of gas for the electricity production.
During the auction, the average electricity price on the wholesale market – the so-called “pool” – amounted to 147.23 euros/MWh on Thursday. The Maximum price will register from 01.00 to 02.00 hourswith 170 euros/MWh, while minimum for the day, of 124.99 euros/MWh, will be between 7:00 p.m. and 8:00 p.m..
To this ‘pool’ price is added the compensation of 106.54 euros/MWh to the gas companies which must be paid by the consumers who benefit from the measure, the consumers of the regulated tariff (PVPC) or those who, although being on the free market, they have an indexed rate.
17.6% less than without applying the measure
In the absence of the “Iberian exception” mechanism to cap the price of gas for the production of electricity, the price of electricity in Spain it would be on average 308.24 euros/MWh, i.e. approximately 54.47 euros/MWh more than with the remuneration of regulated tariff customers, which They will thus pay around 17.6% less on average.
The Iberian mechanism, which entered into force on June 15, limits the price of gas for electricity production to an average of 48.8 euros per MWh for a period of twelve months, thus covering next winter, a period when energy prices are more expensive.
Specifically, the “Iberian exception” sets a trajectory for natural gas for electricity generation at a price of 40 euros/MWh in the first six months, then a monthly increase of five euros/MWh until the end of the measure.