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Electricity prices increased again this Monday

The average electricity price in the wholesale market will rise 0.67% this Monday compared to this Sunday, staying below the…

By admin , in news , at June 5, 2022

The average electricity price in the wholesale market will rise 0.67% this Monday compared to this Sunday, staying below the 200 euro per megawatt hour (MWh) level.

Specifically, the average electricity price on this Monday will be in 194,94 Euro/MWhOne euro more expensive than this Sunday’s price (193.65 euros), according to data published by the Iberian Energy Market Operator (OMIE) and collected by Europa Press.

Thus, on June 6, the maximum price of electricity will be recorded between 9:00 pm to 10:00 pm. 235,8 euro/MWh, while the minimum for the day, will be 168.05 Euro/MW, between 5:00 pm and 6:00 pm.

Compared to a year ago, the average electricity price for this Monday is 183.06% more expensive than 68.87 EUR/MWh as of June 6, 2021.

prices’pool’ has a direct impact on regulated tariffs—the so-called PVPCs—which cover about 11 million households in the country, and serve as a reference for another 17 million who have contracted their supplies on the free market.

In fact, the National Markets and Competition Commission (CNMC) has verified that in 2021, in the framework of energy’s upward spiral, approximately 1.25 million people switched from PVPC at a fixed price to a free market at a rate.

On 14 May, the Official State Gazette (BOE) published the Royal Decree-Law, providing a mechanism to limit the price of gas for electricity generation to an average of 48.8 euros per megawatt/hour (MWh) for a period of twelve months. was established, thus covering the next winter, a period in which energy prices are more expensive.

However, the mechanism, despite being published as Royal Decree-Law, is pending a formal decision of Brussels and for its application to be initiated by an ecumenical transition order.

The government has reduced the calculation of the average power consumer covered by the PVPC regulated rate by 15.3% during the 12 months of application of the approved cap on the generation of electricity from natural gas, as per reports of the impact of the same. Decree law and to which Europa Press had access.

For the industrial consumer, who is fully exposed to the spot price, the government estimates that the bill will reduce by between 18% and 20%, between 15% and 17% in the first month of the mechanism, and by 13%. There will be an oscillation between 15%. in the latter.

Despite this, the Minister for Ecological Transition and Demographic Challenge, Teresa Ribera, has acknowledged that there is some “uncertainty” in calculating the exact reduction in the price of electricity when gas limits for generating electricity are implemented, but maintained. Holds that the executive forecasts it will fluctuate between 15% and 20%.

Electricity prices increased again this Monday

2022-06-05 14:58:10