Electricity prices jump 6% on Friday

The average price of electricity forregulated tariff customers linked to the wholesale market will rise on Friday by 6% compared to Thursday, to 218.19 euros per megawatt hour (MWh).

In the auction, the average price of electricity in the wholesale market - the so-called 'pool' - stands this Friday at 127.62 euros/MWh. Thus, the maximum price will be recorded between 20.00 and 21.00 hours, with 171.95 euros/MWh, while the minimum for the day, of 91.79 euros/MWh, will be between 11.00 and 12.00 hours, according to provisional data from the Iberian Energy Market Operator (OMIE) collected by EP.

To this pool price is added the compensation to the gas companies that has to be paid by the beneficiary consumers of the measure, the consumers of the regulated tariff (PVPC) or those who, despite being in the free market, have an indexed tariff, which for this Friday will be 90.57 euros/MWh.

22.36% less

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 about 281.06 euros/MWh, which is about 62.87 euros/MWh more than with the compensation for regulated tariff customers, who will thus pay 22.36% 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 from a price of 40 euros/MWh in the initial six months - until December 15 - and thereafter, a monthly increase of five euros/MWh until the end of the measure.