The average price of electricity in the wholesale market for this Wednesday will upload a 3.11% in relation to its registration on Tuesday and will exceed the level of 250 euros megawatt / hour (MWh), standing at 255.81 euros.
Thus, the levels continue to set very high records compared to what was paid last year, which means that this Wednesday the price will be 377.88% more expensive than the 53.53 euros/MWh of March 30, 2021.
According to data published by the Iberian Energy Market Operator (OMIE), the maximum electricity price for this Wednesday will take place between 9:00 p.m. and 10:00 p.m.with 282.69 euros/MWh, while the minimumof 228.78 euros/MWh, will be recorded between the 17.00 and 18.00 hours.
The prices of the wholesale market have a direct impact on the regulated rate or PVPC, to which they are covered almost 11 million consumers in Spain, and serve as a reference for the other 17 million who contract their supply on the free market.
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The Government has included in the macro-decree of measures against the economic impact of the war an early review of the remuneration received by part of renewable energies and that has skyrocketed with extra income as a result of the rise in electricity prices. The President Pedro Sanchez adventure that the revision will allow rescue 1,800 million euros this year and use them to lower even more and immediately the charges that are included in the electricity bill, which will translate into a reduction in the bill. A discount that will translate into a cut of 6 euros in the electricity bill of an average consumer each month, according to estimates by the Executive.
Spain will present this week together with Portugal a proposal to the European Commission to intervene in the electricity market, establishing a cap on the price of gas used to produce electricity (around 50 euros per megawatt hour), including the difference in the real cost of gas plants as the cost of the electricity system and setting a double price with a price different for the electricity that is sold to France through the interconnections. The Executive anticipates that Brussels will decide on its proposal in three or four weeks, and until then this reform could not be applied and it will not be noticed in the electricity bill of homes and companies with a substantial reduction.