5 Feb. () –
The average price of electricity for regulated rate customers linked to the wholesale market will rise this Monday to 132.07 euros per megawatt hour (MWh), which is 76.68% more than the 74.75 euros/MWh of this Sunday.
In the auction, the average price of electricity in the wholesale market –the so-called ‘pool’– will stand this Monday at 134.98 euros/MWh. The minimum price, of 87.9 euros/MWh, will be given between 03:00 and 04:00, while the maximum price will be recorded between 20:00 and 21:00, when it will be 186.21 euros/MWh.
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 will be -2.91 euros/MWh.
9.92% LESS THAN WITHOUT APPLYING THE IBERIAN EXCEPTION
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 146.62 euros/MWh on average, which means 14.55 euros/MWh more than with the compensation for regulated rate customers, who will thus pay 9.92% 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 .