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    Electricity prices fall 3.9% this Thursday to 253.77 euros/MWh


    August 3, 2022 - CE Noticias Financieras

     

      MADRID, 3 (EUROPA PRESS)

      Thus, after three days of increases so far this week, the price of electricity will cut this Thursday with the upward trend of recent days.

      This price is the result of adding the average of the auction in the wholesale market to the compensation to be paid by the demand to the combined cycle power plants for 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' - stood for this Thursday at 147.23 euros/MWh. The maximum price will be registered from 01.00 to 02.00 hours, with 170 euros/MWh, while the minimum for the day, of 124.99 euros/MWh, will be between 19.00 and 20.00 hours.

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      To this pool price is added the compensation of 106.54 euros/MWh to the gas companies that must 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, have an indexed tariff.

      17.6% LESS THAN WITHOUT THE APPLICATION OF 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 around 308.24 euros/MWh, which is around 54.47 euros/MWh more than with the compensation for regulated tariff customers, who will thus pay around 17.6% 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 the coming winter, a period in which energy prices are more expensive.

      Specifically, the 'Iberian exception' sets a path for natural gas for electricity generation of 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.

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