The price of electricity rises this Sunday by 58.5%, up to 88.74 euros/MWh

MADRID, 19 Nov.

The price of electricity rises this Sunday by 58.5%, up to 88.74 euros/MWh


The average price of electricity for regulated rate customers linked to the wholesale market will rise this Sunday by 58.52% compared to this Saturday, up to 88.74 euros per megawatt hour (MWh).

In the auction, the average price of light in the wholesale market --the so-called 'pool'-- will stand this Sunday at 96.58 euros/MWh. The maximum price will be registered between 8:00 p.m. and 9:00 p.m., with 157.96 euros/MWh, while the minimum for the day will drop to 63.40 euros/MWh between 3:00 a.m. and 4:00 a.m., according to provisional data from the Operator of the Iberian Energy Market (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 Sunday, for the fifth consecutive day, will show a negative balance with -7.84 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 118.14 euros/MWh on average, which is around 29.4 euros/MWh more than with the compensation for regulated rate customers, who will thus pay 24.89% 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.