The average price of electricity for regulated rate customers linked to the wholesale market will rise 31.6% on Sunday compared to this Saturday, up to 219.48 euros per megawatt hour (MWh).
In the auction, the average price of electricity in the wholesale market -the so-called ‘pool’- stands for this Sunday at 146.45 euros/MWh. Thus, the maximum price will be registered between 8:00 p.m. and 9:00 p.m., with 181.07 euros/MWh, while the minimum for the day, of 114.60 euros/MWh, will be given between 03:00 and 04:00, according to provisional data from 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 in the free market, have an indexed rate, which for tomorrow will be 73.03 euros/MWh.
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 300.10 euros/MWh on average, which means 80.62 euros/MWh more. than with compensation for regulated rate customers, who will thus pay 26.8% 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.
