these are the most expensive and cheapest hours
The average price of electricity for regulated rate customers linked to the wholesale market will rise this Wednesday by 1.83% compared to this Tuesday, until reaching 108.62 euros, according to provisional data from the Iberian Energy Market Operator (OMIE).
A) Yes, It will be the seventh consecutive day that the so-called Iberian exception is left without applicationin force since mid-June, since the reference price for gas plants stands at 33.93 euros/MWh, below the cap of 40 euros/MWh.
In the auction, the average price of electricity in the wholesale market (pool) is set for this Wednesday at €108.62/MWh. To this price of the ‘pool’ is added the compensation 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, which this time will be zero again.
The most expensive and cheapest hours of electricity
The maximum price of the day will be registered between 8:00 p.m. and 9:00 p.m., with 147 euros/MWh, while the minimum for the day, of 85.40 euros/MWh, will be between 04:00 and 05:00 hours.
- From 00:00 to 01:00: 94.63 euros/MWh.
- From 01:00 a.m. to 02:00 a.m.: 88.80 euros/MWh.
- From 02:00 a.m. to 03:00 a.m.: 85.90 euros/MWh.
- From 03:00 a.m. to 04:00 a.m.: 85.40 euros/MWh.
- From 4:00 a.m. to 5:00 a.m.: 85.90 euros/MWh.
- From 5:00 a.m. to 6:00 a.m.: 88.60 euros/MWh.
- From 6:00 a.m. to 7:00 a.m.: 94.26 euros/MWh.
- From 07:00 a.m. to 08:00 a.m.: 135.89 euros/MWh.
- From 08:00 a.m. to 09:00 a.m.: 145.02 euros/MWh.
- From 09:00 a.m. to 10:00 a.m.: 135.00 euros/MWh.
- From 10:00 a.m. to 11:00 a.m.: 128.87 euros/MWh.
- From 11:00 a.m. to 12:00 p.m.: 112.8 euros/MWh.
- From 12:00 a.m. to 1:00 p.m.: 105.16 euros/MWh.
- From 1:00 p.m. to 2:00 p.m.: 94.26 euros/MWh.
- From 2:00 p.m. to 3:00 p.m.: 94.90 euros/MWh.
- From 3:00 p.m. to 4:00 p.m.: 93.83 euros/MWh.
- From 4:00 p.m. to 5:00 p.m.: 99.39 euros/MWh.
- From 5:00 p.m. to 6:00 p.m.: 119.13 euros/MWh.
- From 6:00 p.m. to 7:00 p.m.: 132.96 euros/MWh.
- From 7:00 p.m. to 8:00 p.m.: 147.00 euros/MWh.
- From 8:00 p.m. to 9:00 p.m.: 138.02 euros/MWh.
- From 9:00 p.m. to 10:00 p.m.: 111.97 euros/MWh.
- From 10:00 p.m. to 11:00 p.m.: 99.10 euros/MWh.
- From 11:00 p.m. to 12:00 a.m.: 90.10 euros/MWh.
The ‘Iberian mechanism’, which came into force on June 15, limits the price of gas for electricity generation to an average of 48.8 euros per MWh over a period of twelve months, thus covering the coming winter, a period in which which energy prices are more expensive. 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 measurement.
Brussels plans to set a higher ceiling
The European Commission proposes that the model of the Iberian exception that allows Spain and Portugal to put a ceiling on the price of gas used to generate electricity be extended to the rest of the European Union with a cap of between 100 and 120 euros per Mwh, a limit softer than the average of about 48.8 euros of the Spanish-Portuguese mark; a step with which he estimates a net benefit of 13,000 million euros for the block.
“Adding this mechanism above the inframarginal cap would thus produce a net benefit of approximately 13,000 million euros over the 70,000 million of the inframarginal cap,” says the working document that the Community Executive has circulated among the capitals in the framework of the negotiations to intervene in the energy market.
At this point, Brussels adds, the resulting net benefits will have a “beneficial effect on inflation”, although it warns that one of the risks associated with the measure is the foreseeable increase in gas consumption, contrary to the objective of seeking sources alternatives after the rupture with Russia due to its invasion of Ukraine.
In this context, community services are committed to setting a maximum price “high enough so that gas power does not become more attractive” than producing electricity from other technologies that set between 100 and 120 euros per megawatt per hour , almost double the average limit of about 48.8 euros that Brussels allowed Lisbon and Madrid.
This seeks a “balance” between the effectiveness of the measure and preventing gas from gaining ground over alternative technologies, explains the document, which also emphasizes that in the current situation, with a gas price of around 60 euros per MWh , this measure would have no impact.
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