Between 4:00 and 5:00 the price will be 0.57 euro/MWh
MADRID, 30 (PRESS EUROPE)
The average price of electricity for regulated rate customers connected to the wholesale market will plunge this Friday to 5.47 euros per megawatt-hour (MWh), which represents a drop of 66.13% compared to this Thursday and its lowest since 20 February 2021, when it stood at 2.02 euro/MWh.
Similarly, this Friday’s price will be the fourth lowest since the beginning of last year, higher only than the 1.42 euros/MWh of January 31, 2021, the 2.02 euros/MWh of February 20, 2021 and the 4, 19 euro/MWh of 30 January 2021.
In the auction, the average price of electricity on the wholesale market – the so-called ‘pool’ – stood at 6.02 euro/MWh for this Friday. The minimum price, of 0.57 euro/MWH, will take place between 4:00 and 5:00, while the maximum price will be recorded between 19:00 and 20:00, with 21.78 euro /MWh, according to provisional data from the Operator of the Iberian Energy Market (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 Friday will be in negative figures (-0.55 euro/MWh).
In this sense, the “very high” wind energy production of recent days will predictably remain in the coming days, which suggests that the price of electricity in Spain will remain “low” in the rest of the week, according to Europa Press in sources of the sector.
89.17% LESS THAN WITHOUT APPLYING THE IBERIAN EXCEPTION
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 €50.53/MWh, or around €45.06/MWh. MWh more than the compensation for tariff customers, who will thus pay an average of 89.17% 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.
