MADRID/LOGROO, 10 (PRESS EUROPE)
The average price of electricity for regulated rate customers connected to the wholesale market will drop this Wednesday to 85.73 euros per megawatt hour (MWh), which represents a decrease of 23.82% compared to 112.53 euros/MWh this tuesday.
In the auction, the average electricity price in the wholesale market – the so-called ‘pool’ – will be 83.84 euros/MWh this Wednesday. The minimum price, of 4.16 euros, will be given between 02:00 and 05:00, while the maximum price will be recorded between 08:00 and 09:00, when it will be 139,02 euros.
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 Wednesday it stood at 1.89 euro/MWh.
33.1% LESS THAN WITHOUT APPLYING THE IBERIAN EXCEPTION
In the absence of the “Iberian exception” mechanism to limit the price of gas for the production of electricity, the price of electricity in Spain would average around 128.22 euros/MWh, which means 42.49 euros /MWh more than the compensation for the installment, which will thus pay an average of 33.14% 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.
The third vice president of the government and minister for ecological transition and the demographic challenge, Teresa Ribera, has already anticipated that the Spanish government will ask Brussels to extend the ‘Iberian exception’ until at least the end of 2024, with a similar ceiling to the current one, between 45 and 50 euros per megawatt hour (MWh).
