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    Electricity to fall by more than 8% this Tuesday to 240.58 euros/MWh


    September 19, 2022 - CE Noticias Financieras

     

      Electricity will fall this Tuesday by more than 8% to 240.58 euros per megawatt hour (MWh), according to the results of the auction in the wholesale market and the adjustment to be paid after the cap on gas to compensate the power plants.

      According to the electricity market operator OMIE and the Iberian Gas Market (Mibgas), the wholesale price of electricity (the price paid by consumers with regulated tariffs) will be 39 euros lower than the 279.23 euros per MWh that would have been paid if the cap on gas for electricity generation had not been applied.

      In a context marked by the energy crisis in Europe following the Russian invasion of Ukraine, Brussels is preparing a plan that will serve to reduce energy consumption at peak hours, limit the remuneration of renewables and nuclear energy and establish a tax on the extraordinary profits of energy companies.

      At the same time, it is working on a far-reaching reform of the energy market in the longer term to decouple gas-fired generation from renewables , which, according to the President of the Community Executive, Ursula Von der Leyen, will arrive "at the end of this year".

      For tomorrow, within the main European economies, the highest price will once again be recorded in Italy, where it will reach 393.13 euros/MWh.

      In France, the MWh will stand at 377.66 euros, above the 299.63 pounds (about 341 euros at the current exchange rate) that will be paid in the United Kingdom.

      In Germany, meanwhile, the price of electricity on the wholesale market will rise to 363.43 euros.

      In Portugal, wherethe cap is alsoapplied to gas under the so-called "Iberian exception" , the auction price will be the same as in Spain, the country with which it shares a market.

      Auction and adjustment

      If only the results of the auction in the wholesale market are taken into account, without including the adjustment to be paid by the beneficiaries of the gas cap to compensate the plants that use gas, electricity will increase by nearly 23% to 149.47 euros/MWh.

      By time bands (excluding the aforementioned adjustment), the most expensive price will be reached between 8:00 and 9:00, with 191.85 euros/MWh; while the cheapest will be registered between 15:00 and 16:00, with 124.5 euros.

      However, to these amounts must be added the cost of the adjustment to the gas plants, the amount of which varies depending on the volume required by the system and its price, and is passed on to the beneficiary households and companies.

      For tomorrow, the provisional average adjustment for consumers will be 91.11 euros/MWh, so the final price will be 240.58 euros/MWh, 53% more than a year ago .

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