The price of electricity will drop by 23.5% this Sunday and will stand at 228.13 euros/MWh

Almost 11 euros less than the price of the MWh of not having the limit on the price of gas

July 16 () –

The average price of electricity for regulated rate customers linked to the wholesale market will drop 23.5% this Sunday compared to this Saturday, to 228.13 euros per megawatt hour (MWh), according to provisional data from the Operator of the Iberian Energy Market (OMIE) collected by Europa Press.

This price for PVPC customers 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 electricity generation.

In the auction, the average price of electricity in the wholesale market – the so-called ‘pool’ – stands at 102.45 euros/MWh for this Sunday.
The maximum price will be registered at 10:00 p.m., with 179.27 euros/MWh, while the minimum for the day, of 69.05 euros/MWh, will be given at 11:00 a.m.

To this price of the ‘pool’ is added the compensation of 125.68 euros/MWh 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, they have an indexed rate.

In the absence of the ‘Iberian exception’ mechanism to limit the price of gas for the generation of electricity, the price of electricity in Spain would have been an average of 239.58 euros/MWh, which is about 11 euros/MWh more than with the compensation for customers of the regulated rate.