The price of electricity falls 1.5% this Thursday, to 132.91 euros/MWh

MADRID, 23 Ago.

The price of electricity falls 1.5% this Thursday, to 132.91 euros/MWh


The average price of electricity for regulated rate customers linked to the wholesale market will fall on Thursday, August 24, by 1.5% compared to this Wednesday, to 132.91 euros per megawatt hour (MWh).

By time slots, the maximum price, of 171.16 euros/MWh, will be recorded between 9:00 p.m. and 10:00 p.m., while the minimum price will be between 1:00 p.m. and 2:00 p.m., with 112.27 euros/MWh, according to provisional data from the Iberian Energy Market Operator (OMIE) collected by Europa Press.

In this way, the price of electricity will end this Thursday the streak of five consecutive days to the rise that it had chained. However, despite this slight drop, the price will be the second highest so far this month and so far this summer, just behind the 134.94 euros/MWh of this Wednesday.

These high electricity prices these days are recorded in an environment of rising natural gas prices and demand, in the midst of a heat wave, the fourth so far this summer.

In these first 24 days of the month, the electricity market average is above 95.8 euros/MWh, compared to the 154.89 euros/MWh 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 ruled out that it could last longer if said framework was also extended.

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.