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    BusinessThe price of electricity will rise this Friday by 19.3%, up to 211.69 euros/MWh

    The price of electricity will rise this Friday by 19.3%, up to 211.69 euros/MWh

    File – Two electrical towers, on November 12, 2021, in Madrid, (Spain). – Eduardo Parra – Europa Press – Archive

    The average price of electricity for regulated rate customers linked to the wholesale market will rise this Friday by 19.3% compared to yesterday Thursday, up to 211.69 euros per megawatt hour (MWh).

    In the auction, the average price of light in the wholesale market -the so-called ‘pool’- stands for this Friday at 144.39 euros/MWh. Thus, the maximum price will be registered between 7:00 p.m. and 8:00 p.m., with 170.42 euros/MWh, while the minimum for the day, of 110 euros/MWh, will be between 03:00 and 04:00, according to the data. provisional statements of the Iberian Energy Market Operator (OMIE) collected by Europa Press.

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    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 this Friday will be 67.30 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 303.84 euros/MWh on average, which is 92 euros/MWh more than with compensation for regulated rate customers, who will thus pay 30.33% less on average.

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    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.

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