The price of electricity will rise this Friday by 19.3%, up to 211.69 euros/MWh

MADRID, 8 Dic.

The price of electricity will rise this Friday by 19.3%, up to 211.69 euros/MWh


The average price of electricity for regulated rate customers linked to the wholesale market will drop 31.9% on Thursday compared to this Wednesday, to 177.44 euros per megawatt hour (MWh).

In the auction, the average price of electricity in the wholesale market -the so-called 'pool'- stands for this Thursday at 122.39 euros/MWh. Thus, the maximum price will be registered between 8:00 p.m. and 9:00 p.m., with 166.44 euros/MWh, while the minimum for the day, of 102.50 euros/MWh, will be given between 5:00 a.m. and 6:00 a.m., according to provisional data from the Iberian Energy Market Operator (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 in the free market, have an indexed rate, which for this Thursday will be 55.05 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 276.34 euros/MWh on average, which is almost 99 euros/MWh more than with compensation for regulated rate customers, who will thus pay 35.78% 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.