The price at 0 euros/MWh will be given between 3:00 p.m. and 4:00 p.m.
MADRID, 24 Jun. (EUROPA PRESS) –
The average price of electricity for regulated rate customers linked to the wholesale market will drop this Sunday by 12.23% compared to Saturday, to 72.27 euros per megawatt hour (MWh).
By time slots, the minimum price, of 0 euros/MWh, will be given between 3:00 p.m. and 4:00 p.m., while the maximum price will be recorded between 10:00 p.m. and 11:00 p.m., with 127.59 euros/MWh.
The price of electricity will remain contained for a large part of Sunday and, in fact, from 10:00 a.m. to 6:00 p.m. it will be below 10 euros/MWH.
With the arrival of the weekend, in which there is usually a drop in demand, the price of electricity thus takes a breather and moves away again from the level of 100 euros/MWh on average that it has exceeded on Monday to friday.
The average for the electricity ‘pool’ so far in June stands at 91.7 euros/MWh, compared to 176.72 euros/MWh that was set in June a year ago.
Compensation to the gas companies would be added to this average 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 , have an indexed rate, but which is again at 0 euros/MWh, a situation that has been repeated since February 27.
The so-called ‘Iberian exception’ has been extended until December 31, after the agreement reached by Spain and Portugal with the European Commission. Thus, it is extended for seven months, until the end of this year, and it is not excluded that it could be extended for a longer time if said framework is also extended.
Specifically, the agreement not only represents an extension of the Iberian exception that was already applied, but also implies some adjustments to accommodate it, such as the price reference, which until now increased by five euros per month, and will now be smoother.
In the original agreement, the aforementioned reference price for gas had an average value of 48.8 euros/MWh: it was 40 euros/MWh for six months, rising 5 euros/MWh every month thereafter. Now, it will increase by 1.1 euros/MWh from last April, to conclude at 65 euros/MWh.
Currently, the mechanism has had no effect on the marginal matching processes in the wholesale markets since the end of February, due to the drop in the price of natural gas below the thresholds set for its application, but, if necessary, the extension will allow maintain a reasonable price, not so dependent on the evolution of natural gas.
