Electricity exceeds 200 euros/MWh this Monday for the first time in ten days

The average price of electricity for regulated rate customers linked to the wholesale market rises 35.1% In the absence of the ‘Iberian exception’ mechanism, the average price would be around 261.38 euros/MWh, which is almost 10.14 euros/MWh moreThe maximum price will be registered between 8:00 p.m. and 9:00 p.m.The average price of electricity for regulated rate customers linked to the wholesale market rises 35.1% this Monday compared to this Sunday, up to 251 .24 euros/MWh, according to provisional data from the Iberian Energy Market Operator (OMIE). This price is the result of adding the average of the auction in the wholesale market to the compensation that the demand will pay to the combined cycle plants due to the application of the ‘Iberian exception’ to cap the price of gas for electricity generation. In the auction, the average price of electricity in the wholesale market –the so-called ‘pool’– is set for this Monday at €200.38/MWh. The maximum price will be registered between 8:00 p.m. and 9:00 p.m., with 270 euros/MWh, while the minimum for the day, of 165 euros/MWh, will be between 3:00 p.m. and 4:00 p.m. At this price of the ‘pool ‘ The compensation of 50.86 euros/MWh is added to the gas companies that has to be paid by the consumers who benefit from the measure, the consumers of the regulated tariff (PVPC) or those who, despite being in the free market, they have an indexed rate. 3.8% less than without applying the measure 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 on average about 261, 38 euros/MWh, which is almost 10.14 euros/MWh more than with the compensation for clients of the regulated rate, who will thus pay 3.8% less on average. The ‘Iberian mechanism’, which entered into force on June 15, limits the price of gas for electricity generation to an average of 48.8 euros per M Wh for a period of twelve months, thus covering the next winter, a period in which energy prices are more expensive. Specifically, the ‘Iberian exception’ sets a path for natural gas to generate electricity at a price of 40 euros/MWh in the initial six months, and subsequently, a monthly increase of five euros/MWh until the end of the measure.