Third consecutive day in which the ‘Iberian exception’ does not apply
The average price of electricity for customers of Regulated rate linked to the wholesale market will fall 0.89% on Saturday compared to this Friday, to 104.9 euros per megawatt hour (MWh), according to provisional data from the Operator of the Iberian Energy Market (OMIE) Collected by Europa Press.
This will be the third consecutive day in which the so-called Iberian exception is left without applicationin force since mid-June, since the reference price for gas plants stands at 35.89 euros/MWh, below the cap of 40 euros/MWh.
In the auction, the average price of electricity in the wholesale market – the so-called ‘pool’ – stands at 105.91 euros/MWh for this Friday. The maximum price will be registered between 01:00 and 02:00, with 143.43 euros/MWh, while the minimum for the day, of 55.2 euros/MWh, will be between 17:00 and 16:00.
To this price of the ‘pool’ is added the compensation 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, have an indexed rate, which on this occasion for this Saturday will again be negative, as in the three previous days, with -1.01 euros/MWh.
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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 twelve-month periodthus covering the next 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 subsequently, a monthly increase of five euros/MWh until the end of the measure.