The price of electricity falls this Thursday to 75.51 euros/MWh, its lowest level since October 23

November 16 () –

The average price of electricity for regulated rate customers linked to the wholesale market will collapse on Thursday by 26.86% compared to this Wednesday, to 75.51 euros per megawatt hour (MWh), its lowest level since the last October 23.

In the auction, the average price of electricity in the wholesale market -the so-called ‘pool’- will stand this Thursday at 78.93 euros/MWh. The maximum price will be registered between 10:00 p.m. and 11:00 p.m., with 138 euros/MWh, while the minimum for the day will drop to 10 euros/MWh between 4:00 a.m. and 6:00 a.m., according to provisional data from the Iberian Market Operator of Energy (OMIE) collected by Europa Press.

To this ‘pool’ price is added the compensation to the gas companies that must be paid by consumers who are beneficiaries of the measure, consumers of the regulated tariff (PVPC) or those who, despite being in the free market, have an indexed rate, which for this Thursday, for the second consecutive day, will show a negative balance with -3.42 euros/MWh.

In this way, the average price of electricity for regulated rate customers linked to the wholesale market will be the lowest since last October 23, when it marked, including compensation, 72.84 euros/MWh.

28.6% LESS THAN WITHOUT APPLYING THE MEASURE

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 105.78 euros/MWh on average, which is around 30.27 euros/MWh more than with the compensation for regulated rate customers, who will thus pay 28.6% 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 -until December 15-, and subsequently, a monthly increase of five euros/ MWh until the end of the measure.