2023-09-16 18:10:50
He average electricity price in the wholesale market will drop this Sunday by 35.5% and will stand at 63.77 euros per megawatt hour (MWh), the second lowest number so far this month, according to the Iberian Electricity Market Operator (OMIE). But during the day there will be large time fluctuations that will range from 122,69 euros per megawatt-hour (MWh) at 20 hours at 4,08 euros per MWh at 1 p.m.
This price directly affects a part getting smaller of consumers, which are those with regulated rate (known as PVPC or Voluntary Price for the Small Consumer) and which amount to a total of 8.5 million users. Meanwhile, the bulk of electricity customers in Spain (21.5 million) have a rate in the free marketwhich depends on the price agreement reached between the marketer and customers.
The average price this Sunday will be a 65% cheaper than that of the same day in 2022, when it exceeded 182 euros per MWh within the energy crisis derived from the war in Ukraine that reached its maximum levels in the month of August of that year. Compared to the equivalent day in 2021, the level is similar because then it was at 146,57 euros per MWh because the upward price spiral which began in the spring of that same year. But when you go back to 2020 o 2019 The difference is enormous with prices of 39.17 and 37.63 eurosrespectively.
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Currently, the so-called ‘gas cap’ designed by Spain and Portugal with the endorsement of the European Commission is still in force to contain the rise in electricity caused by the increase in the price of gas, although it is not applied because the price of this raw material continues below the limit set by the Government. Between June and December 2022 the reference was 40 euros per MWh; Since January, this limit has increased at a rate of 5 euros more every month until March, when it was agreed to extend it from 55 euros per MWh of that month to 65 euros per MWh at the end of this year. Since mid-February the price of gas has remained below the ceiling and, if there are no unforeseen events, it is likely that it will remain that way for the rest of the year.
The average price in Spain is below surrounding countries such as Germany (87.6 euros per MWh), Italia (109.4 euros per MWh) o France (72.5 euros per MWh) due to the depressing effect of renewables in the central hours of the day.
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