The price of electricity rises 70 euros this Monday compared to today’s minimum, up to 80.31 euros/MWh

Dec. 25 () –

The average price of electricity for regulated rate customers linked to the wholesale market will rise this Monday to 80.31 euros per megawatt hour (MWh), which is 70 euros more than the minimum of 10.63 euros/MWH marked this Sunday, Christmas day.

Despite tomorrow’s sharp rise, the price of electricity is below a week ago, on Monday, December 19, when it was 96.41 euros/MWh.

A year ago, on December 25, 2021, the average price of electricity was 188.53 euros/MWh.

In the auction, the average price of light in the wholesale market -the so-called ‘pool’- stands for this Monday at 77.32 euros/MWh. The minimum price, of 24.10 euros/MWH, will be given from 03:00 a.m. to 04:00 a.m., while the maximum price will be registered between 7:00 p.m. and 8:00 p.m., with 189.26 euros/MWh, according to provisional data from the Operator of the Iberian Energy Market (OMIE) collected by Europa Press.

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 2.99 euros/MWh, according to provisional data.

37% 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 129.25 euros/MWh on average, which is around 48.94 euros/MWh more than with the compensation for regulated rate customers, who will thus pay 37.86% 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 .