The price of electricity for regulated rate customers decreased another 0.43%, to 213.83 euros/MWh. Check the price of electricity hour by hour for this July 19
Those looking for a good time to put the most consuming appliances should take advantage of the cheapest hours of electricity this Tuesday. After the de-escalation of prices in recent days, it will be the moment when the megawatt per hour will be cheaper, taking into account the amounts of the previous days for regulated rate customers. And it is that according to provisional data from the Iberian Energy Market Operator (OMIE), the price of electricity will fall again today. It will do so with a slight 0.43% compared to Monday, but it will place the electricity price at 213.83 euros per megawatt hour (MWh), far from the 303.07 euros / MWh that was paid last Tuesday.
This price of electricity 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 cover the price of gas for electricity generation.
In the auction, the price of electricity in the wholesale market -the so-called ‘pool’- stands at 142.35 euros/MWh for this Tuesday. The maximum price will be registered between 10:00 p.m. and 11:00 p.m., with 182.49 euros/MWh, while the minimum for the day, of 118.49 euros/MWh, will occur between 03:00 and 04:00.
Cheapest and most expensive hours to put the appliances
cheapest hour
from 03 to 04 hours, with 118.49 euros/MWhmost expensive hour
from 22 to 23 hours, with 182.49 euros/MWh
To this price of the ‘pool’ is added the compensation of 71.48 euros/MWh to the gas companies that has to 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, they have an indexed rate.
In the absence of the ‘Iberian exception’ mechanism to cap the price of gas for electricity generation, the price of electricity in Spain would have been an average of around 267.06 euros/MWh, which represents 53.23 euros/ MWh more than with the compensation for clients of the regulated rate, who will thus pay around 19.93% less on average.
Evolution of the electricity tariff (in euros / MWh.):
Price July 19, Tuesday:
213,83 euros / MWh.Price July 18, Monday:
214,75 euros / MWh.Price July 17, Sunday:
228,13 euros / MWh.Price July 16, Saturday:
298,25 euros / MWh.Price July 15, Friday:
300,34 euros / MWh.Price July 14, Thursday:
311,15 euros/MWhPrice July 13, Wednesday:
315,76 euros / MWh.
Compared to a year ago, the price of electricity for customers of the regulated rate for this Tuesday is 116.42% more compared to 98.8 euros/MWh on July 19, 2021.
The Iberian mechanism, which entered into force on June 15, limits the price of gas for electricity generation to an average of 48.8 euros per MWh over 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 at a price of 40 euros/MWh in the initial six months, and subsequently, a monthly increase of five euros/MWh until the end of the measure .