15 Jan. () –
The average price of electricity for regulated rate customers linked to the wholesale market will drop this Monday to 11.71 euros per megawatt hour (MWh), which represents a drop of 45.51% compared to 21.49 euros/ MWh on Sunday.
In the auction, the average price of light in the wholesale market -the so-called ‘pool’- will be located this Monday at 13.22 euros/MWh. The minimum price, of 3 euros, will be given between 01:00 and 02:00 and 03:00 and 05:00, while the maximum price will be between 20:00 and 21:00, when it will be 34.20 euros.
Compensation for gas companies is added to this pool price, which must be paid by consumers who are beneficiaries of the measure, consumers of the regulated tariff (PVPC) or those who, despite being on the free market, They have an indexed rate, which for this Monday stands at -1.51 euros/MWh.
72% LESS THAN WITHOUT APPLYING THE IBERIAN EXCEPTION
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 around 42.89 euros/MWh on average, which means 31.18 euros/MWh more than with the compensation for regulated rate customers, who will thus pay 72.70% less on average.
The ‘Iberian mechanism’, which came into force on June 15, limits the price of gas for electricity generation to an average of 48.8 euros per MWh for a period of twelve months, thus covering next winter, a period in which energy prices are more expensive.
Specifically, the ‘Iberian exception’ sets a path for natural gas for electricity generation from a price of 40 euros/MWh in the initial six months, and subsequently, a monthly increase of five euros/MWh until the end of the measure .
The Spanish Executive has already asked Brussels to extend the ‘Iberian exception’ at least until the end of 2024 with a cap similar to the current one, of between 45 and 50 euros per megawatt hour (MWh).
