The price of electricity in the regulated market falls this Saturday and the time slots vary compared to those that are frequent during the week. The cheapest hours will be from 9 a.m. to 6 p.m. and the most expensive from 00 a.m. to 4 a.m. and from 6 p.m. to midnight.
The average price of electricity in the wholesale market will drop by 5.64% on Saturday compared to this Friday, so it is once again below the level of 200 euros per megawatt hour (MWh).
In this way, the average price of the ‘pool’ will stand this Saturday at 191.55 euros/MWh, according to data published by the Iberian Energy Market Operator (OMIE) and collected by Europa Press.
Compared to a year ago, the average price of electricity for this Saturday will be 167.79% more expensive than the 71.53 euros/MWh of May 14, 2021.
The prices of the ‘pool’ have a direct impact on the regulated rate -the so-called PVPC-, to which almost 11 million households in the country are covered, and serve as a reference for the other 17 million who have contracted their supply in the free market .
In fact, the National Commission of Markets and Competition (CNMC) has verified that in 2021, in the framework of the upward spiral of energy, around 1.25 million people switched from the PVPC to a rate in the free market at a fixed price.
The Government, in an extraordinary Council of Ministers held this Friday, has approved the mechanism to limit the price of gas for electricity generation to an average of 48.8 euros per megawatt/hour (MWh) for a period of twelve months, covering so next winter, a period in which energy prices are more expensive.
The Third Vice President and Minister of Ecological Transition, Teresa Ribera, has indicated that the measure, once it comes into force the day after its publication in the Official State Gazette (BOE) -predictably this Saturday- and at the expense of the European Commission formally adopt support for the standard, which could be delayed “about two weeks” – will mean an immediate improvement for 37% of domestic consumers and 70% for industrial consumers.
Thus, he estimated that thanks to this measure the price of the ‘pool’ will fall by around 38% in its average price, from 210 euros per megawatt hour (MWh) marked throughout the first quarter of this year to about 130 euros /MWh. In this way, the only electricity that consumers will pay at the cost of gas will be that produced with gas plants.
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