The electricity will fall tomorrow more than 3% to 275.4 euros the megawatt hour (MWh), according to the results of the auction in the wholesale market or ‘pool’ and the adjustment to be paid after the gas cap to compensate the plants that use this material.
According to the electricity market operator OMIE and the Iberian Gas Market (Mibgas), the wholesale electricity price (the price paid by consumers with a regulated rate) will be around 52 euros lower compared to the 327.78 euros at which the MWh would have been paid if the gas cap had not been applied intended for power generation.
In a context marked by the energy crisis facing Europe due to the Russian invasion of Ukraine, the Ministers of Energy of the Twenty-Seven agreed this week to reduce electricity consumption and tax the profits of energy companies.
In addition, they have also asked the European Commission for proposals to study an “emergency and temporary intervention” in the electricity market, including a cap on the price of gas imported from Russia.
For this Sunday, within the main European economies, the highest price will be registered again in Italy, where it will reach 405.2 euros/MWh. In Germanythe MWh will stand at 391.94 euros/MWh, slightly above the 390.94 euros/MWh that will be paid in France. In the case of United Kingdom, electricity will stand at 308.37 pounds/MWh (about 352 euros at the current exchange rate). In Portugalwhere the cap on gas is also applied by virtue of the so-called “Iberian exception”, the auction price will be the same as in Spain, a country with which it shares a market.
Auction and adjustment
If only the results of the auction in the wholesale market are taken into account, without including the adjustment that the beneficiaries of the gas cap must pay to compensate the plants that use this material, electricity will rise more than 8%, to stand at 161.42 euros/MWh.
By time bands (excluding the aforementioned adjustment), the most expensive price will be reached between 9:00 p.m. and 10:00 p.m. with 252 euros/MWh, while the cheapest will be registered between 4:00 p.m. and 5:00 p.m. with 98.5 euros.
However, to these amounts must be added the cost of adjusting the gas plants, the amount of which varies depending on the volume required by the system and its price, and affects households and beneficiary companies.
For this Sunday, the provisional average adjustment for consumers will be 113.98 euros/MWh, with which the final price will be 275.4 euros/MWh, 82% higher than a year ago.
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