The gas collapse means that for the fourth consecutive day the so-called Iberian exception, which has been in effect since mid-June, is not applied
Relief of the electricity bill. The average price of electricity for regulated tariff customers linked to the wholesale market fell by 30.56% this Sunday compared to this Saturday, to 72.84 euros per megawatt hour (MWh), the lowest level since August 7, 2021, when it was was 65 euros.
This will be the fourth consecutive day that the so-called Iberian exception, which has been in force since mid-June, will not be applied, as the reference price for gas-fired power plants is EUR 36.43/MWh, below the ceiling of EUR 40/MWh.
In the auction, the average price of electricity on the wholesale market – the so-called ‘pool’ – for this Sunday stands at 72.84 euros/MWh, according to preliminary data from the Iberian Energy Market Operator (OMIE). The maximum price will be registered between 21:00 and 22:00 at 138.22 euros/MWh, while the minimum for the day of 4.11 euros/MWh will be between 15:00 and 17:00.
To this price of the ‘pool’ is added the compensation to the gas companies to be paid by the consumers who benefit from the measure, the consumers of the regulated tariff (PVPC) or those who, despite being on the free market , have an indexed interest rate, which will be negative again for this Sunday, just like in the previous four days.
The ‘Iberian mechanism’, which came into effect on 15 June, limits the price of gas for electricity generation to an average of EUR 48.8 per MWh over a twelve-month period, covering the coming winter, a period when energy prices are more expensive.
In concrete terms, the ‘Iberian exception’ sets out a path for natural gas for electricity generation from a price of 40 euros/MWh in the first six months -until 15 December-, followed by a monthly increase of 5 euros/MWh until the end of the dimension.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
