The price of electricity rises 2% this Monday and remains above 250 euros for the third consecutive day

About 47 euros less than the price per MWh if the gas price limit is not included

July 24 () –

The average price of electricity for regulated rate customers linked to the wholesale market will rise 2% this Monday, to 256.21 euros per megawatt hour (MWh), according to provisional data from the Iberian Energy Market Operator (OMIE). Collected by Europa Press.

In this way, the price for PVPC customers will remain above 250 euros/MWh for the third consecutive day.

This price is the result of adding the average price of the auction in the wholesale market to the compensation that the demand will pay to the combined cycle plants for the application of the ‘Iberian exception’ to cap the price of gas for the generation of electricity .

In the auction, the average price of electricity in the wholesale market – the so-called ‘pool’ – will stand at 158.02 euros/MWh on Monday. The maximum price will be recorded from 12:00 a.m. to 01:00 a.m., with 186.58 euros/MWh, while the minimum for the day, of 125.12 euros/MWh, will occur between 6:00 p.m. and 7:00 p.m.

To this price of the ‘pool’ is added the compensation of 98.19 euros/MWh to the gas companies that has to be paid by the consumers who benefit from the measure, the consumers of the regulated tariff (PVPC) or those who, despite being in the free market, they have an indexed rate.

15% 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 on average around 303 euros/MWh, which is around 47 euros/MWh more than with the compensation for clients of the regulated tariff, who will thus pay around 15% 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 period of twelve months, thus covering the coming winter, a period in which energy prices are more expensive.

Specifically, the ‘Iberian exception’ sets a path for natural gas for electricity generation at 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 .