Between 04:00 a.m. and 06:00 a.m. the price will be zero euros
The average price of electricity for customers at the regulated tariff connected to the wholesale market will fall further this Saturday to 1.82 euros per megawatt hour (MWh), which represents a drop of 66.7% compared to this Friday and the lowest record since January 31, 2021, when it stood at 1.42 euros/MWh.
At auction, the average price of light on the wholesale market – the so-called “pool” – amounts this Saturday to 2.65 euros/MWh. Throughout the morning, specifically between 04:00 a.m. and 06:00 a.m., the price will be zero euros, although from 02:00 a.m. to 5:00 p.m. it will never exceed one euro. The maximum price will be given between 7:00 p.m. and 8:00 p.m., when it will be 20 euros.
To this pool price is added a compensation for the gas companies, which must be paid by the consumers benefiting from the measure, the consumers of the regulated tariff (PVPC) or those who, although being on the free market, have a indexed tariff, which for this Saturday will be in negative figures (-0.83 euros/MWh).
95.5% LESS THAN WITHOUT APPLYING THE IBERIAN EXCEPTION
In the absence of the “Iberian exception” mechanism to cap the price of gas for electricity production, the price of electricity in Spain would be around 40.41 euros/MWh on average, or around 38, 6 euros/MWh more than with compensation for regulated tariff customers, who will thus pay 95.5% less on average.
The “Iberian mechanism”, which came into force on June 15, limits the price of gas for electricity production to an average of 48.8 euros per MWh for a period of twelve months, thus covering next winter, a period when energy prices are more expensive.
More precisely, the “Iberian exception” sets a trajectory for natural gas for the production of electricity starting from a price of 40 euros/MWh in the first six months, then, thereafter, a monthly increase of five euros/MWh until the end of the measurement .
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