The average price of electricity for regulated tariff customers linked to the wholesale market will fall this Thursday, January 5th, to 116.56 euros per megawatt hour (MWh), down 3.7% from 121 euros/MWh on Wednesday.
In the auction, the average price of electricity on the wholesale market – the so-called ‘pool’ – stands at 109.19 euros/MWh this Thursday. The minimum price, of 61.97 euros, will be between 04.00 and 05.00 hours, while the maximum price will be recorded between 19.00 and 20.00 hours, when it will sit at 177.98 euros.
The compensation to the gas companies is added to this ‘pool’ price, which must be paid by the consumers who are beneficiaries of the measure, the consumers of the regulated tariff (PVPC) or those who, in spite of being in the free market, have an indexed tariff, which for this Thursday will be 7.37 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 average about €147.44/MWh, which is about €31/MWh more than with the compensation for regulated tariff customers, who will thus pay 21% less on average.
The ‘Iberian mechanism’, which came into force on June 15th, 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 this winter, a period when energy prices are more expensive.
Specifically, the ‘Iberian exception’ sets a schedule for natural gas for electricity generation from a price of 40 euros/MWh for the first six months, and thereafter, a monthly increase of five euros/MWh until the end of the measure.
For the full article, please visit Diario de Ibiza website here.