It stands at 109.78 euros/MWh after falling to 72 euros this Sunday, but for the fifth consecutive day, the so-called Iberian exception remains out of action.
The week kicks off with another strong uptick in electricity, above 50%, although above the more than a year minimum it reached this Sunday. So, after falling to 72 euros this Sunday, the average price of electricity for regulated tariff customers linked to the wholesale market will rise this Monday to 109.78 euros, according to preliminary data from the Iberian Energy Market Operator (OMIE). In any case, it should be noted that this is the sixth lowest price in October and will also be the fifth consecutive day that the so-called Iberian exception, which has been in effect since mid-June, does not apply, as the price reference point for gas-fired power plants is 36.43 euros/MWh, below the ceiling of 40 euros/MWh.
In the auction, the average price of electricity on the wholesale market – the so-called ‘pool’ – will rise this Monday to 109.78 euros/MWh. In addition, the maximum price will be recorded between 8 p.m. and 9 p.m., at EUR 180.01/MWh, while the minimum for the day will be between 4 a.m. and 5 a.m.: EUR 77.60/MWh, well above just over EUR 4 which it took the day before.
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 index-linked interest rate, which will be zero again this Monday.
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’ explains a path for natural gas for electricity generation from a price of 40 euros/MWh in the first six months – until December 15 – to then a monthly increase of five 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.
