Electricity prices fall 12.4% to 191.14 euros/MWh

The average price of electricity for regulated tariff customers linked to the wholesale market will fall this Saturday by 12.4% compared to Friday, to 191.14 euros per megawatt hour (MWh).

In the auction, the average price of electricity in the wholesale market - the so-called 'pool' - stands this Saturday at 120.02 euros/MWh. Thus, the maximum price will be registered between 20:00 and 21:00 hours, with 145.9 euros/MWh, while the minimum for the day, 103.48 euros/MWh, will be between 03:00 and 04:00 hours, according to provisional data from the Iberian Energy Market Operator (OMIE) collected by Europa Press.

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 Saturday will be 71.12 euros/MWh.

20.7% 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 about 241.13 euros/MWh, which is about 50 euros/MWh more than with the compensation for regulated tariff customers, who will thus pay 20.7% 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 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.