The price of electricity will rise this Friday by almost 8%, to 113.1 euros/MWh, in the midst of a heat wave — idealista/news

2023-08-11 11:49:52

He average price of light for customers of regulated rate linked to the wholesale market will rise this Friday, August 11, cases a 8% with respect to Thursday and will thus be located at 113,09 euros per megawatt/hour (MWh), marking the highest figure so far this month and in full of heat.

By time slots, the maximum price of 130.82 euros/MWh, will register between 08:00 and 09:00, Meanwhile he minimal price will be given between 4:00 p.m. and 5:00 p.m., with 89 euros/MWh, According to the provisional data of the Operator of the Iberian Energy Market (OMG).

In these first eleven days of the month, The average for the electricity market is in the 80 euros/MWh, compared to the 143.1 euros/MWh that it registered in the same period of August 2022.

To this average price of the ‘pool’ would be added the compensation to gas companies that has to be paid by the consumers who are beneficiaries of the measure, the consumers of the regulated tariff (PVPC) or those who, despite being in the free market, they have a fee indexedbut which is situated again at 0 euros/MWha situation that has been repeated since last February 27.

The so-called ‘Iberian exception’ was extended until December 31, after the agreement reached by Spain and Portugal with the European Commission. Thus, it is prolonged seven months, until the end of this year, and it is not excluded that can last longer if said frame is also prolonged.

Specifically, the agreement not only represents a extension of the Iberian exception that was already applied, but involves some adjustments to accommodate it, like the price referencewhich until now increased by five euros a month, and now it will be smoother.

In the original agreement, the aforementioned reference price for gas had a average value of 48.8 euros/MWh: was 40 euros/MWh for six months, increasing 5 euros/MWh each month since then. Now it will increase by 1,1 euros/MWh since last April, to conclude in 65 euros/MWh.

Currently, the mechanism has no effect on marginal matching processes in wholesale markets from end of February due to the drop in the price of natural gas below the set thresholds for your application, but, if necessary, the prorogation will allow us to maintain a reasonable price, not so dependent on the evolution of natural gas.