Second consecutive day in which the ‘Iberian exception’ does not apply
The average price of electricity for customers of Regulated rate linked to the wholesale market will rise this Friday by 24% compared to yesterday, Thursday, to 105.85 euros per megawatt hour (MWh), according to provisional data from the Operator of the Iberian Energy Market (OMIE) Collected by Europa Press.
This will be the second consecutive day in which the so-called Iberian exception remains without application, in force since mid-June, since the reference price for gas plants stands at 31.81 euros/MWh, below the ceiling of 40 euros/MWh, although it will reactivate when I get over that barrier again.
In the auction, the average price of electricity in the wholesale market –the so-called ‘pool’– stands at 107.8 euros/MWh for this Friday. The maximum price will be registered between 9:00 p.m. and 10:00 p.m., with 172.76 euros/MWh, while the minimum for the day, of 75 euros/MWh, has occurred between 03:00 and 04:00.
To this price of the ‘pool’ is added the compensation to the gas companies that has to be paid by the consumers who benefit from the measure, consumers of the regulated rate (PVPC) or those who, Despite being in the free market, they have an indexed rate, which this time for this Friday will be negative again, as in the two previous days, with -1.95 euros/MWh.
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The ‘Iberian mechanism’, which entered into force on June 15, limits the price of gas for electricity generation to an average of 48.8 euros per MWh over a period of twelve months, thus covering the 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.