Madrid 1 OCT 2022 - 10:15CEST
The average price of light for regulated tariff customers linked to the wholesale market rises this Saturday by 12.2% compared to this Friday, to 171.8 euros per megawatt-hour (MWh)
, according to provisional data from the Iberian Energy Market Operator (OMIE).
This price is the result of adding the average auction price in the wholesale market to the compensation to be paid by demand to 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 (pool) for this Saturday is 116.09 euros/MWh. The maximum price will be recorded between 21.00 and 22.00 hours, with 218.65 euros/MWh
, while the minimum for the day, 72.72 euros/MWh, will be between 15.00 and 16.00 hours.
To this pool price is added the compensation of 55.71 euros/MWh
to the gas companies that must be paid by the consumers benefiting from the measure, the consumers of the regulated tariff (PVPC) or those who, despite being in the free market, have an indexed tariff.
The Iberian exception lowers the price by 9.7%
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 190.22 euros/MWh
, which is almost 18.42 euros/MWh more than with the compensation for regulated tariff customers, who will thus pay 9.7% 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 when 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 thereafter, a monthly increase of five euros/MWh until the end of the measure.