Between 3:00 p.m. and 5:00 p.m. the price of electricity will be 4.11 euros/MWh

MADRID, 22 Oct. (EUROPA PRESS) -

The average price of electricity for regulated rate customers linked to the wholesale market will fall 30.56% this Sunday compared to this Saturday, to 72.84 euros per megawatt hour (MWh), the lowest level since 7 August 2021, when it stood at 65 euros.

This will be the fourth consecutive day that the so-called Iberian exception, in force since mid-June, remains without application, since the reference price for gas plants stands at 36.43 euros/MWh, below the ceiling of 40 euros/MWh.

In the auction, the average price of electricity in the wholesale market - the so-called 'pool' - stands for this Sunday at 72.84 euros/MWh, according to provisional data from the Iberian Energy Market Operator (OMIE) Collected by Europa Press. The maximum price will be registered between 9:00 p.m. and 10:00 p.m., with 138.22 euros/MWh, while the minimum for the day, of 4.11 euros/MWh, will occur between 3:00 p.m. and 5:00 p.m.

To this price of the 'pool' is added the compensation 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, which this time for this Sunday will be negative again, as in the four previous days.

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 for electricity generation from a price of 40 euros/MWh in the initial six months -until December 15-, and subsequently, a monthly increase of five euros/ MWh until the end of the measurement.