The price of electricity will be free for seven hours this Sunday, from 11:00 a.m. to 6:00 p.m.

The average price rises 16.7% compared to Saturday, up to 25.41 euros/MWh

15 Apr. (EUROPE PRESS) –

The average price of electricity for regulated rate customers linked to the wholesale market will rise this Sunday by 16.72% compared to this Saturday, up to 25.41 euros per megawatt hour (MWh).

However, this price will be the third lowest for a day so far in April and will also be zero euros for seven hours.

Specifically, from 11:00 a.m. to 6:00 p.m. the price of electricity will be zero euros/MWh, while the maximum price will be given between 10:00 p.m. and 11:00 p.m., with 127.85 euros/MWh.

To this average price of the ‘pool’ would be added the compensation to the gas companies, which must 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 , have an indexed rate, but for this Saturday it will be again at 0 euros/MWh, a situation that has been repeated since February 27.

The average price of electricity so far in April stands at 58.79 euros/MWh, more than three times lower than the 213 euros/MWh registered in the same month last year.

The so-called ‘Iberian exception’ has been extended until December 31, after the agreement reached by Spain and Portugal with the European Commission.

Thus, it is extended for seven months, until the end of this year, and it is not excluded that it could be extended for a longer time if said framework is also extended.

Specifically, the agreement not only represents an extension of the Iberian exception that was already applied, but also implies some adjustments to accommodate it, such as the price reference, which until now increased by five euros per month, and will now be softer.

In the original agreement, the aforementioned reference price for gas had an average value of 48.8 euros/MWh: it was 40 euros/MWh for six months, rising 5 euros/MWh each month thereafter. Now, it will increase by 1.1 euros/MWh from April, to conclude at 65 euros/MW. For this month of April, the limit is set at 56.1 euros/MWh.

Currently, the mechanism has had no effect on the marginal matching processes in the wholesale markets since the end of February, due to the drop in the price of natural gas below the thresholds set for its application, but, if necessary, the extension will allow maintain a reasonable price, not so dependent on the evolution of natural gas.