The price of electricity rises this Monday to 109.78 euros/MWh

Oct. 23 () –

The average price of electricity for regulated rate customers linked to the wholesale market will increase this Monday to 109.78 euros, which represents an increase of 50.71% compared to this Sunday, although it will be the sixth lowest price on the October, according to provisional data from the Iberian Energy Market Operator (OMIE) collected by Europa Press.

This will be the fifth consecutive day that the so-called Iberian exception, in force since mid-June, remains without application, since the reference price for gas plants stands at 36.43 euros/MWh, below the ceiling of 40 euros/MWh.

In the auction, the average price of electricity in the wholesale market – the so-called ‘pool’ – stands for this Sunday at 109.78 euros/MWh. In addition, the maximum price will be registered between 8:00 p.m. and 9:00 p.m., with 180.01 euros/MWh, while the minimum for the day, of 77.60 euros/MWh, will occur between 4:00 and 5:00 a.m.

To this price of the ‘pool’ is added the compensation to the gas companies that has to be paid by the consumers who benefit from the measure, the consumers of the regulated rate (PVPC) or those who, despite being in the free market, have an indexed rate, which this time for this Monday will be zero again.

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 over a period of twelve months, thus covering the coming winter, a period in which 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 measurement.