The price of electricity continues to fall this Thursday and falls by 15%, to 64.76 euros/MWh

MADRID, 2 Ago.

The price of electricity continues to fall this Thursday and falls by 15%, to 64.76 euros/MWh


The average price of electricity for regulated rate customers linked to the wholesale market will fall this Thursday, August 3, by 14.9% compared to this Wednesday, to 64.76 euros per megawatt/hour (MWh).

By time slots, the maximum price, of 95 euros/MWh, will be recorded between 9:00 p.m. and 11:00 p.m., while the minimum price will be given between 2:00 p.m. and 3:00 p.m., with 23.51 euros/MWh, according to the data. provisional statements of the Iberian Energy Market Operator (OMIE) collected by Europa Press.

In this way, the price of electricity continues to fall at the beginning of August and falls to its lowest level since July 23. In these first three days of the month, the average stands at 75.8 euros/MWh, compared to the 154.9 euros/MWh registered in August 2022.

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' was 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 softer.

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 each month thereafter. Now, it will increase by 1.1 euros/MWh since 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 fall in the price of natural gas below the thresholds set for its application, but, if necessary, the extension will allow the maintenance of a reasonable price, not so dependent on the evolution of natural gas.