The price of electricity for customers who have the regulated rate linked to the wholesale market will drop 21.3% on Sunday compared to this Saturday, to 168.86 euros per megawatt hour (MWh).
This price for PVPC customers is the result of adding the average price of the auction in the wholesale market to the compensation that the demand will pay to the combined cycle 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 –the so-called ‘pool’– will be 117.94 euros/MWh this Sunday, which is 10.76 euros less than the price for today ( 128.70 euros/MWh) and a decrease of 8.3%, according to data from the Iberian Energy Market Operator (OMIE) collected by Europa Press.
The maximum electricity price for this June 26 will be registered between 11:00 p.m. and 12:00 a.m., with 153.21 euros/MWh, while the minimum for the day, of 74.25 euros/MWh, will be between 6:00 p.m. and 7:00 p.m.
To this price of the ‘pool’ is added the compensation of 50.92 euros/MWh to the gas companies, compared to 85.96 euros/MWh this Saturday. This compensation must be paid by the consumers who benefit from the measure, the consumers of the regulated rate (PVPC) or those who, despite being in the free market, have an indexed rate.
In the absence of the mechanism of the ‘Iberian exception’ to cap the price of gas for the generation of electricity, the price of electricity in Spain would have been on average around 252.55 euros/MWh, which means around 83 euros/MWh more than with the compensation for clients of the regulated tariff, who will thus pay around 33% less on average.
Compared to a year ago, the price of electricity for customers of the regulated rate for this Friday is 148% more than the 86.57 euros/MWh that the ‘pool’ marked on average for June 25, 2022 .
