The price of electricity rises this Monday to 55.15 euros/MWH, the highest level of November

MADRID, 5 Nov.

The price of electricity rises this Monday to 55.15 euros/MWH, the highest level of November


The average price of electricity for regulated tariff customers linked to the wholesale market will rise this Monday, November 6, 996% compared to this Sunday's data, up to 55.15 euros per megawatt hour (MWh).

In this way, the price rebounds after five consecutive days in which it has been at very low levels and reached the annual minimum this Saturday at 1.51 euros/MWh, so that tomorrow, Monday, it will reach the highest level ever. that we have in the month of November.

The maximum price, of 151.74 euros/MWh, will be recorded between 6:00 p.m. and 7:00 p.m., according to provisional data from the Iberian Energy Market Operator (OMIE) collected by Europa Press. On the contrary, the minimum price, 1.77 euros/MWh, will be reached between 03:00 and 04:00 in the morning.

So far in November, the pool has registered an average price of 12.73 euros/MWh, compared to just over 124 euros/MWh that it registered in the same month last year.

The large presence of generation with renewable energy, especially wind, due to the effect of the storms that have affected the Peninsula in recent days, is allowing the 'pool' to register these low prices.

In fact, the storms suffered in the final stretch of October led to the upward trend in electricity prices of recent months being halted at the end of last month. Thus, the average of the electricity market in October closed at 90.14 euros/MWh, almost 13% lower than the 103.34 euros/MWh in September.

Compensation to the gas companies would be added to the average price of the 'pool', which has to 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, They have an indexed rate, but it is once again at 0 euros/MWh, a situation that has been repeated since February 27.

The so-called 'Iberian exception' was extended until December 31, following the agreement reached by Spain and Portugal with the European Commission. Thus, it was extended for seven months, until the end of this year, and it was not excluded that it could be extended for longer 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 by 5 euros/MWh each month thereafter. It has increased by 1.1 euros/MWh since last April, ending at 65 euros/MWh.

Currently, the mechanism has not had any effect on the marginal matching processes in the wholesale markets since the end of February due to the drop in the price of natural gas below the thresholds set for its application, but, if necessary, the extension will allow maintaining a reasonable price, not so dependent on the evolution of natural gas.