MADRID, 12 Dic. (EUROPA PRESS) –
The average price of electricity for regulated rate customers linked to the wholesale market will fall by 6.95% on Tuesday compared to this Monday, to 121.18 euros per megawatt hour (MWh), which will mean a new minimum in so far in December.
In the auction, the average price of light in the wholesale market -the so-called ‘pool’- stands for this Tuesday at 97.69 euros/MWh. Thus, the maximum price will be registered between 4:00 p.m. and 5:00 p.m., with 147 euros/MWh, while a minimum of 4.11 euros/MWh will be registered during the first six hours of the day, according to provisional data from the Market Operator. Ibérico de Energía (OMIE) collected by Europa Press.
These very low prices in the wholesale market for the first hours of the day will be motivated by the high presence of renewables in the ‘mix’, especially wind power, due to the Efraín storm, which brings a strong storm of rain and wind in great part of Spain.
To this ‘pool’ price is added the compensation to the gas companies that 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, have an indexed rate, which will be 23.49 euros/MWh.
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 249.49 euros/MWh on average, which means 128.31 euros/MWh more. than with compensation for customers of the regulated rate, who will thus pay 51.42% 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.
