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    The price of electricity will exceed 200 euros this Monday after ten days below the 200 euro mark.


    October 2, 2022 - CE Noticias Financieras

     

      Electricity will rise this Monday by more than 35%, to 251.24 euros per megawatt hour (MWh), according to the results of the auction held in the wholesale market or "pool" and the adjustment to be paid by the beneficiaries of the cap on gas to compensate the plants that use this material.

      This is its fourth consecutive rise, which breaks the 200 euros/MWh barrier after ten days, and marks its highest price since September 22, when it reached 297.96 euros/MWh, as reflected in the data prepared by Efe.

      According to figures from the Iberian Electricity Market Operator (OMIE) and the Iberian Gas Market (Mibgas), the wholesale price of electricity, that is, the price paid by consumers with regulated tariffs, will be about 10 euros cheaper than the 261.38 euros at which the MWh would have been paid without the gas cap.

      The increase in electricity demand at the beginning of the week and the tensions in the energy markets, pending the evolution of the investigations into the leaks in Baltic waters from the Nord Stream 1 and 2 gas pipelines, condition the values in the main European economies.

      In fact, the heads of state and government of the European Union will address the security of critical infrastructures at their next informal summit, to be held in Prague next week, on October 6 and 7.

      Against this backdrop, electricity will be priced this Monday at an average of 346.73 euros/MWh in Italy, although it will be close to 550 euros/MWh between 20:00 and 21:00. For its part, in France it will be at 287.71 euros/MWh, with peaks above 466 euros between 19:00 and 20:00 hours, and at 209.35 euros/MWh in Germany. In Portugal, where the cap is also applied to gas for electricity generation under the so-called "Iberian exception", the price will be the same as in Spain, the country with which it shares the market. Outside the European Union, in the United Kingdom, it will be paid at 225 pounds (about 256 euros at the current exchange rate).

      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, the MWh will rebound to 200.38 euros.

      By time slots, always excluding such adjustment, the most expensive price will be reached between 20:00 and 21:00 hours, when it will reach 270 euros/MWh, while the cheapest will be recorded between 15:00 and 16:00 hours, about 165 euros/MWh.

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

      For this Monday, the provisional average adjustment for consumers will be 50.86 euros/MWh, bringing the definitive price to 251.24 euros/MWh, nearly 35 % more than on the first Monday of October last year.

      smv/prb

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