The average price of electricity in the wholesale market will drop this Monday for the sixth consecutive time, according to provisional data published by the Iberian Energy Market Operator (OMIE).
Specifically, the price of electricity this April 18 will be 103.24 euros per megawatt hour (MWh), 7.28% less than this Sunday. In this way, the price of this Monday will be the lowest since December 27, 2021, the day on which the Spanish paid 96.08 euros/MWh.
The maximum price of electricity for this April 18 will be between 9:00 p.m. and 10:00 p.m., with 219,69 euros/MWh, and the minimum, of 45 euros/MWh, will be recorded between 2:00 p.m. and 3:00 p.m.
Compared to just one year ago, the price of the ‘pool’ for this Monday will be 59.96% higher at 64.54 euros/MWh on April 18, 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 that 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.
Measures to reduce the price of the receipt
On March 29, the Government approved a national plan to deal with the impact of the war in Ukraine, which includes, among other measures, the extension of the tax reduction on taxes levied on the electricity bill until June 30, as well as the extension of the electricity social bond until reaching the 1.9 million beneficiary households.
In addition, it was adopted early and extraordinary update of the regulated remuneration regime for renewables, cogeneration and waste (Recore) with an adjustment of 1,800 million euros with which the charges on the electricity bill are lowered.
Another of the measures agreed upon by the Executive was a extension Until June 30, the reduction of gas to reduce extraordinary profits in the electricity market, expanding its scope of application to energy contracted on a term basis and at a fixed price from the entry of the norm, if said price is higher than 67 euros/ MWh.
Also, the governments of Spain and Portugal have presented a preliminary proposal to the European Commission to establish a reference price for gas of 30 euros per MWh in order to lower the price of electricity.