The price of electricity falls this Sunday to 15.7 euros/MWh, its lowest level since January 17


The average price of electricity for regulated rate customers linked to the wholesale market will drop this Sunday by 53.69% compared to this Saturday, to settle at an average of 15.74 euros per megawatt hour (MWh), the highest figure. low registered since last January 17, when it stood at 5.1 euros per megawatt hour (MWh).

In the auction, the average price of light in the wholesale market –the so-called ‘pool’– will thus be situated for this Sunday at those 15.74 euros/MWh, registering between 3:00 p.m. and 6:00 p.m. day, with 0 euros/MWh, while the maximum price will be registered between ten and eleven at night, with 50 euros/MWh.

Compensation for gas companies would be added to this pool price, which must be paid by consumers who are beneficiaries of the measure, consumers of the regulated tariff (PVPC) or those who, despite being on the free market, They have an indexed rate, but for this Sunday it will again be at 0 euros/MWh, a situation that has been repeated since February 27.

The Council of Ministers approved last Tuesday the extension of the Iberian exception until December 31, after the agreement reached by Spain and Portugal with the European Commission.

Consequently, it is extended for seven months, until December 31, and it is not excluded that it could be extended for a longer time if said framework is also extended.

Specifically, the agreement not only represents an extension of the Iberian exception that was already applied, but also implies some adjustments to accommodate it, such as the price reference, which until now increased by five euros per month, and will now be smoother.

In the original agreement, the aforementioned reference price for gas had an average value of 48.8 euros/MWh: it was 40 euros/MWh for six months, rising 5 euros/MWh each month thereafter. At the moment, the reference price is 55 euros/MWh and the extension of the system implies a modification of the established path, so that it will increase by 1.1 euros/MWh from April, ending at 65 euros/MW.

Currently, the mechanism has had no effect on the marginal matching processes in the wholesale markets since the end of February, due to the drop in the price of natural gas below the thresholds set for its application, but, if necessary, the extension will make it possible to maintain a reasonable price, not so dependent on the evolution of natural gas.

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