The electricity bill becomes more expensive again by rising 3.6% and exceeding 270 euros

With the increase in demand at the beginning of the week, the price of electricity says goodbye to the truce. The average for regulated rate customers linked to the wholesale market this Monday rises 3.59% compared to this Sunday, up to 271.06 euros per megawatt hour (MWh), according to provisional data from the Iberian Energy Market Operator (OMIE) collected by Europa Press. This price is the result of adding the average of the auction in the wholesale market to the compensation that the demand will pay to the combined cycle plants for the application of the ‘Iberian exception’ to cap the price of gas for electricity generation.

In the auction, the average price of electricity in the wholesale market – the so-called ‘pool’ – stands for this Monday at 176.58 euros/MWh. The maximum price will be registered between 9:00 p.m. and 10:00 p.m., with 250 euros/MWh, while the minimum for the day, of 125 euros/MWh, will be between 11:00 a.m. and 12:00 p.m. To this price of the ‘pool’ is added the compensation of 94.48 euros/MWh to the gas companies that has to be paid by the consumers who benefit from the measure, the consumers of the regulated rate (PVPC) or those who, despite being in the free market, have an indexed rate.

34.5% less than without applying the measure

In the absence of the ‘Iberian exception’ mechanism to cap the price of gas for electricity generation, the price of electricity in Spain it would be an average of 414.34 euros/MWhwhich is about 143 euros/MWh more than with the compensation for clients of the regulated rate, who will thus pay 34.5% less on average.

The ‘Iberian mechanism’, which came into force on June 15, limits the price of gas for generation electricity at an average of 48.8 euros per MWh over a period of twelve months, thus covering the next winter, a period in which energy prices are more expensive. Specifically, the ‘Iberian exception’ sets a path for natural gas to generate electricity at a price of 40 euros/MWh in the initial six months, and subsequently, a monthly increase of five euros/MWh until the end of the measure.

The Third Vice President of the Government and Minister for the Ecological Transition and the Demographic Challenge, Teresa Ribera, estimated this week that the Iberian exception has meant a saving of 1,383 million euros for Spanish consumers in its two months of validity. Ribera indicated that this figure represents a saving of 22 million euros per day for Spanish society since the entry into force of the mechanism.


Source: LA INFORMACIÓN – Lo último by www.lainformacion.com.

*The article has been translated based on the content of LA INFORMACIÓN – Lo último by www.lainformacion.com. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!

*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.

*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!