these are the cheapest hours
The electricity price morning Tuesday gives customers a break from the regulated rate and It plummets 23.4% compared to today Monday, while consumers look askance at the cost of gas, which continues to rise, according to provisional data from the Iberian Energy Market Operator (OMIE).
At the auction, the average cost of the electricity bill tomorrow in the wholesale market -the so-called ‘pool’- this Tuesday will be 109.66 euros/MWh. The maximum price will be registered between 9:00 p.m. and 10:00 p.m., with 154.8 euros/MWh, while the minimum for the day, of 87 euros/MWh, will be between 05:00 and 07:00.
At this price of the ‘pool’ compensation is added to gas companies of 2.53 euros/MWh, which 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 or they have to renew their contract. The sum leaves the cost at 112.19 euros.
In absence of the ‘Iberian exception’ mechanism to cap the price of gas for electricity generation, the price of electricity in Spain would be on average around 142.79 euros/MWh, which is around 30.6 euros/MWh more than with the compensation for customers of the regulated rate, which will thus pay 21.4% less on average.
The ‘Iberian mechanism’, which entered into force on June 15limits the price of gas for electricity generation to an average of 48.8 euros per MWh over a twelve-month period, thus covering the coming winter, a period in which energy prices are more expensive.
In specifically, the ‘Iberian exception’ sets a path for natural gas for electricity generation from a price of 40 euros/MWh in the initial six months -until December 15-, and subsequently, a monthly increase of five euros/MWh until the end of the measure.
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