the most expensive and the cheapest hours
The average price of electricity for regulated rate customers linked to the wholesale market rose again this Wednesday by 3% compared to this Mondayup to 140.63 euros per megawatt hour (MWh), according to provisional data from the Iberian Energy Market Operator (OMIE) collected by Europa Press.
In the auction, the average price of electricity in the wholesale market -the so-called ‘pool’- stands at 125.98 euros/MWh for this Tuesday. The maximum price will be recorded between 8:00 p.m. and 10:00 p.m.with 189 euros/MWh, while the minimum for the day, of 101.01 euros/MWh, will be between 03:00 and 04:00.
To this price of the ‘pool’ is added to the compensation to the gas companies 14.65 euros/MWh that has to be paid by the consumers who are beneficiaries of the measure, the consumers of the regulated tariff (PVPC) or those who, despite being in the free market, must renew their contract.
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 an average of 152.71 euros/MWhwhich is 12 euros/MWh more than with the compensation for clients of the regulated tariff, that they will thus pay 7.9% less on average.
The ‘Iberian mechanism’which entered into force on June 15, limits the price of gas for electricity generation to an average of 48.8 euros per MWh over a twelve-month period, thus covering the coming winter, a period in which gas prices energy are more expensive.
Specifically, the ‘Iberian exception’ sets a path for natural gas to generate electricity 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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