The price of electricity rebounds this Friday by 51.6%, to 114.52 euros/MWh

MADRID, 17 Nov.

The price of electricity rebounds this Friday by 51.6%, to 114.52 euros/MWh


The average price of electricity for regulated rate customers linked to the wholesale market will rise 51.6% on Friday compared to this Thursday, up to 114.52 euros per megawatt hour (MWh).

In the auction, the average price of electricity in the wholesale market -the so-called 'pool'- will stand this Friday at 115.67 euros/MWh.

The maximum price will be registered between 9:00 a.m. and 10:00 a.m., with 237 euros/MWh, while the minimum for the day will drop to 85 euros/MWh between 4:00 p.m. and 5:00 p.m., according to provisional data from the Iberian Market Operator of Energy (OMIE) collected by Europa Press.

To this 'pool' price is added the compensation to the gas companies that 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, which for this Friday, for the third consecutive day, will show a negative balance with -1.15 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 be around 139.63 euros/MWh on average, which is around 24 euros/MWh more than with compensation for regulated rate customers, who will thus pay 17.98% less on average.

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 for a period of twelve months, thus covering next winter, a period in 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 measure.