A year ago the average price was 311.02 euro/MWh
MADRID/LOGROO, 24 (PRESS EUROPE)
The average price of electricity for regulated rate customers linked to the wholesale market rose this Saturday to 34.36 euros per megawatt hour (MWh), which represents a 62.7% increase compared to this Friday, when it marked the its lowest since May 2021, with 21.12 euros/MWh.
In this way, the price of electricity rises for the first time in six days, despite registering the second lowest price of the month after the low marked on Friday.
One year ago, on 24 December 2021, the average price of electricity was 311.02 euros/MWh.
In the auction, the average price of electricity on the wholesale market – the so-called ‘pool’– stands at 36.41 euro/MWh for this Saturday. The maximum price will be recorded between 18:00 and 19:00, with 106.48 euros/MWh, while the minimum, of 20.10 euros/MWh, will be given between 23:00 and 00:00, according to provisional data from the Iberian Energy Market Operator (OMIE) collected by Europa Press.
To this pool price are added the fees for the gas companies, which must be paid by the consumers who are beneficiaries of the provision, the consumers of the regulated tariff (PVPC) or those who, despite being on the free market, have an indexed tariff, which for this reason Saturday is at negative levels, -2.05 euros/MWh.
65% 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 €98.94/MWh, or around €64.58/MWh. MWh. regulated rate customers, who will thus pay an average of 65.27% 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, and subsequently, a monthly increase of five euros/MWh until the end of the measure.
