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Saturday, March 25, 2023

Electricity prices hiked this Sunday: These are the most expensive and cheapest hours

Average cost of electricity for regulated rate customers connected to the wholesale market Will rise to 67.22 euros this Sunday per megawatt hour (MWh), which is 67.71% higher than this Saturday’s 40.08 Euro/MWh.

In the auction, the average price of electricity in the wholesale market – the so-called ‘pool’ – will be 68.41 euros/MW this Sunday. price Minimum, 36.45 Euro/MWh, to be delivered between 11:00 and 12:00while the price Maximum will be entered between 7:00 PM to 8:00 PM. hour, when it will be 178.58 Euro/MW.

To this the ‘pool’ value is added compensation to gas companiesWhich is to be paid by consumers who are beneficiaries of the measure, regulated rate (PVPC) consumers or who have an indexed rate despite being in the free market, which will be -1.19 euros for this Sunday. /Super.

16.33% lower without the Iberian exception applying

in the absence of system ‘Iberian exception’ To cap the price of gas for power generation The electricity price in Spain will be around 80.34 Euro/MWh on averageWhich means 13.12 Euro/MWh more than compensation for regulated rate customers, who will thus pay 16.33% less on average.

The ‘Iberian Mechanism’, which came into force on 15 June, Limits the price of gas for power generation 48.8 euros per MWh on average over a twelve-month period, thus covering the coming winter, a period in which energy prices are more expensive.

In particular, the ‘Iberian exception’ sets a path for natural gas to produce electricity at a price of 40 Euro/MWh in the initial six months, and subsequently, a monthly increase of five Euro/MWh until the end of the measure .

Expansion of the Iberian Exception

The Spanish executive wants to extend the ‘Iberian exception’ until at least the end of 2024, with limits similar to the current one. between 45 and 50 euros per megawatt hour (MWh) And it has requested Brussels for the same.

However, the European Commission has informed Spain and Portugal that the extension of the ‘Iberian exception’ cannot extend beyond December 2023, the date on which the initiative to support the war in Ukraine expires, therefore, when Unless the European Union (EU) amends it, the extension of the mechanism should follow it.

Third Vice President and Minister of Ecological Transition, Teresa Ribera, He explained that in the event of such a scenario, it is likely that the temporary framework for aid to the Ukrainian war would be extended and the Iberian Solution would also be allowed to extend beyond December.

It is also possible that the ‘Iberian exception’ will no longer be necessary if the Spanish Presidency of the Council from July to December 2023 agrees on electricity market reform, for which the Spanish government has already sent its proposal.

World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
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