That average electricity price for regulated tariff customers connected to the wholesale market get on 2% this Monday to 256.21 euros per megawatt hour (MWh), according to preliminary data from the Iberian Energy Market Operator (OMIE). This means that the price for PVPC customers remains above 250 euros/MWh for the third day in a row. This price is obtained by adding the average price of the auction on the wholesale market to the compensation that the demand will pay to the combined cycle power plants for the application of the “Iberian exception” to cap the price of gas for electricity production.
In the auction, the average electricity price on the wholesale market – the so-called “pool” – on Monday was 158.02 euros/MWh. To this price of the “pool” is added the compensation payment of 98.19 euros/MWh to the gas companies, to be paid by the consumers who benefit from the measure, the consumers of the regulated tariff (PVPC) or those who, despite it on the free market they have an indexed interest rate.
The price maximum registered by 12:00 a.m. to 1:00 a.m., with 186.58 euros/MWh, while the minimum for the day of 125.12 euros/MWh is given between 6:00 p.m. and 7:00 p.m
15% less than without the measure
Without the “Iberian Exception” mechanism to cap the price of gas for electricity generation, the average price of electricity in Spain would be around 308.93 euros/MWh, which is around 56.8 euros/MWh more than with the compensation for customers of the regulated Tarifs, which thus pay around 18.9% less on average. The Iberian mechanism, which came into force on June 15, limits the gas price for electricity generation to an average of 48.8 euros per MWh over a twelve-month period, covering the coming winter when energy prices are more expensive. Specifically, the “Iberian exception” provides that natural gas for electricity generation will be increased at a price of 40 euros/MWh in the first six months and then by 5 euros/MWh monthly until the end of the measure.