The price of electricity rises this Sunday by 25%, to 134.67 euros/MWh

November 12 () –

The average price of electricity for regulated rate customers linked to the wholesale market will rise this Sunday by 24.9% compared to this Saturday, up to 134.67 euros per megawatt hour (MWh), according to provisional data from the Operator of the Iberian Energy Market (OMIE) collected by Europa Press.

In the auction, the average price of electricity in the wholesale market -the so-called ‘pool’- will stand this Sunday at 131.69 euros/MWh. The maximum price will be registered between 7:00 p.m. and 8:00 p.m., with 170.23 euros/MWh, while the minimum for the day, of 101.56 euros/MWh, will be given between 2:00 p.m. and 3:00 p.m.

Compensation for gas companies of 2.98 euros/MWh 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 If they are on the free market, they have an indexed rate or have to renew their contract.

9% 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 148.05 euros/MWh on average, which is around 13.38 euros/MWh more than with the compensation for regulated rate customers, who will thus pay 9% 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.