That average electricity price for customers of regulated tariff Electricity coupled to the wholesale market is set to fall 6% Tuesday compared to yesterday to €65.35 per megawatt hour (MWh), the second-lowest price so far this year after last Saturday (€55.98/MWh).
At the auction, the average light price on the wholesale market – the so-called “pool” – This Tuesday it is 73.36 euros/MWh. The maximum price is registered between 20:00 and 21:00 with 108 euros/MWh, while the daily minimum was between 04:00 and 06:00 of 47.2 euros/MWh, according to preliminary data the Operator of the Iberian Energy Market (OMIE) , collected from Europa Press.
To this “pool” price is added the compensation payment to the gas companies, to be paid by consumers who are beneficiaries of the measure, consumers of the regulated tariff (PVPC) or those who, although on the free market, have an indexed one Tariff have that for this Tuesday, for seventh day in a row will have a negative balance of -8.01 euros/MWh.
The low prices of these last few days are drivenin addition to the more dovish natural gas prices in the country – it was trading at 51.58 euros/MWh in Mibgas this Monday – due to the greater participation of renewable energiesespecially wind power, in the “mix”, which at times accounted for more than 50% of generation.
33.2% less than without the measure
Without the “Iberian Exception” mechanism to cap the price of gas for electricity generation, the average electricity price in Spain would be around 97.89 euros/MWh, which is around 32.5 euros/MWh more than in Spain Compensation for regulated tariff customers, who thus pay an average of 33.2% less.
The “Iberian Mechanism” that came into force on June 15 limits the gas price for power generation with an average of 48.8 euros per MWh for a period of twelve months, covering the coming winter, the period when energy prices are at their most expensive.
In particular, the “Iberian Exception” provides a path for natural gas generation of electricity from a price of 40 euros/MWh in the first six months -until December 15th- and then a monthly increase of five euros/MWh until the end of the measure.