It supposes a difference of 1 percent with respect to the values registered on Monday
The average price of electricity for regulated rate customers linked to the wholesale market It will rise this Tuesday by 0.97% compared to this Monday, up to 272.87 euros per megawatt hour (MWh), according to provisional data from the Iberian Energy Market Operator (OMIE) collected by EP.
This price is the result of adding the average of the auction in the wholesale market to the compensation that the demand will pay to the combined cycle power plants for the application of the Iberian exception to cap the price of gas for electricity generation.
In the auction, the average price of electricity in the wholesale market – the so-called ‘pool’ – stood for this Tuesday at 143.99 euros/MWh. The maximum price will be registered between 9:00 p.m. and 10:00 p.m., with 170.17 euros/MWhwhile the minimum for the day, of 121 euros/MWh, will be between 4:00 p.m. and 5:00 p.m.
To this ‘pool’ price is added the compensation of 128.88 euros/MWh to the gas companies that has to be paid by the consumers who benefit from the measure, the consumers of the regulated rate (PVPC) or those who, despite being in the free market, have an indexed rate.
12% less than without the measure
In the absence of the mechanism of the Iberian exception to cap the price of gas for the generation of electricity, the price of electricity in Spain would be an average of 309.88 euros/MWh, which is about 37 euros/MWh more than with the compensation for clients of the regulated tariff, which they will thus pay 12% 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 over a period of twelve months, thus covering the coming winter, a period in which which energy prices are more expensive.
Specifically, the Iberian exception sets a path for natural gas to generate electricity from a price of 40 euros/MWh in the initial six monthsand subsequently, a monthly increase of five euros/MWh until the end of the measure.