The price of electricity continues to rise and this Wednesday it rebounds by 5.6%, to 108.32 euros/MWh

MADRID, 29 Ago.

The price of electricity continues to rise and this Wednesday it rebounds by 5.6%, to 108.32 euros/MWh


The average price of electricity for regulated rate customers linked to the wholesale market will rise by 5.6% on Wednesday, August 30, compared to this Tuesday and will stand at 108.32 euros per megawatt hour (MWh).

By time slots, the maximum price, of 138.45 euros/MWh, will be recorded between 8:00 p.m. and 9:00 p.m., while the minimum price will be between 4:00 p.m. and 5:00 p.m., with 86.51 euros/MWh, according to provisional data from the Iberian Energy Market Operator (OMIE) collected by Europa Press.

In this way, the price of electricity rises for the third consecutive day and remains above the level of 100 euros/MWh, although far from the 134.94 euros/MWh that it reached on Wednesday of last week, its level highest in the summer for one day and the maximum since the beginning of March.

In these 30 days of the month, the electricity market average stands at almost 95.5 euros/MWh, compared to 154.89 euros/MWh that the 'pool' registered in August 2022.

To this average price of the 'pool' would be added the compensation to the gas companies, which must be paid by the consumers who are beneficiaries of the measure, the consumers of the regulated tariff (PVPC) or those who, despite being in 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 lasted seven months, until the end of this year, and it was not excluded that it could be extended for a longer time if said framework was also increased.

Specifically, the agreement not only represented an extension of the Iberian exception that was already applied, but also implied some adjustments to accommodate it, such as the price reference, which until then had increased by five euros per month, and became 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 every month thereafter. It increases 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.