these will be the most expensive and cheapest hours

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The price of electricity will drop this Tuesday more than 5%until the 115 euros per megawatt hour (MWh), according to the results of the auction held this Monday in the wholesale electricity market. Without the Iberian mechanism, which limits the price of gas for electricity generation, the wholesale price would be 123 euros/MWhthat is, 8 euros more expensive, according to data from the Iberian Electricity Market Operator (OMIE) and the Iberian Gas Market (Mibgas).

The final price for this Tuesday is the result of applying to the €113.4/MWh registered for tomorrow in the wholesale market the provisional adjustment that the beneficiaries of the cap on gas have to pay to compensate the plants that use that material to generate electricity, which tomorrow it will be 1 euro. For time slots, excluding such adjustment, the highest price will be reached between the 7:00 p.m. and 8:00 p.m.when will it arrive at 159 euros/MWh; while the cheapest will be registered among the 4:00 and 5:00at the rate of €72/MWh.

Likewise, the final price for tomorrow will be close to one 32% lower than a year agowhen he reached 168 euros. Instead, it will be above what is paid in other European countries such as Germany (€95/MWh), France (114) or the United Kingdom, 82 pounds (about 94 euros); although it will be lower than the price of Italy, which will mark 164 euros/MWh. In Portugalwhere the cap is also applied to gas destined for electricity generation by virtue of what is known as “Iberian exception“, the price will be the same as in Spain, a country with which it shares a market.

The most expensive and cheapest hours tomorrow

  • From 00:00 to 01:00: 96.03 euros/MWh.
  • From 01:00 a.m. to 02:00 a.m.: 88.01 euros/MWh.​
  • ​From 02:00 a.m. to 03:00 a.m.: 85.76 euros/MWh.
  • From 03:00 a.m. to 04:00 a.m.: 79.76 euros/MWh.
  • From 04:00 a.m. to 05:00 a.m.: 72.25 euros/MWh.
  • From 5:00 a.m. to 6:00 a.m.: 88.01 euros/MWh.
  • ​From 06:00 a.m. to 07:00 a.m.: 96.1 euros/MWh.
  • ​From 07:00 a.m. to 08:00 a.m.: 132.61 euros/MWh.
  • ​From 08:00 a.m. to 09:00 a.m.: 138.16 euros/MWh.
  • ​From 09:00 a.m. to 10:00 a.m.: 120.81 euros/MWh.
  • ​From 10:00 a.m. to 11:00 a.m.: 113.87 euros/MWh.
  • ​From 11:00 a.m. to 12:00 p.m.: 99.5 euros/MWh.
  • From 12:00 a.m. to 1:00 p.m.: 96.58 euros/MWh.
  • ​From 1:00 p.m. to 2:00 p.m.: 98 euros/MWh.
  • From 2:00 p.m. to 3:00 p.m.: 100.75 euros/MWh.
  • From 3:00 p.m. to 4:00 p.m.: 106 euros/MWh.
  • From 4:00 p.m. to 5:00 p.m.: 131.28 euros/MWh.
  • ​From 5:00 p.m. to 6:00 p.m.: 145 euros/MWh.
  • From 6:00 p.m. to 7:00 p.m.: 156.89 euros/MWh.
  • ​From 7:00 p.m. to 8:00 p.m.: 158.9 euros/MWh.
  • From 8:00 p.m. to 9:00 p.m.: 147.78 euros/MWh.
  • ​From 9:00 p.m. to 10:00 p.m.: 127.95 euros/MWh.
  • ​From 10:00 p.m. to 11:00 p.m.: 129.22 euros/MWh.
  • From 11:00 p.m. to 12:00 a.m.: 112.26 euros/MWh.

Almost 7.2% 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 on average around 123.42 euros/MWhwhich means about 8.87 euros/MWh more than with the compensation for customers of the regulated rate, who will thus pay a 7.18% less than average.

The ‘Iberian mechanism’, which came into force on June 15, limits the price of gas for electricity generation to an average of €48.8/MWh for 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 from a price of 40 euros/MWh in the initial six monthss -until December 15-, and subsequently, a monthly increase of five euros/MWh until the end of the measure.

Source: lainformacion.com

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