The price of electricity skyrockets for this Sunday due to gas compensation

The price of electricity for regulated rate customers (PVPC) will rise this Sunday, July 10, by 11.

NewsEditor
NewsEditor
09 July 2022 Saturday 18:01
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The price of electricity skyrockets for this Sunday due to gas compensation

The price of electricity for regulated rate customers (PVPC) will rise this Sunday, July 10, by 11.64% compared to Saturday, to 289.79 euros per megawatt hour (MWh), according to data from the Market Operator Iberian Energy (OMIE) compiled by Europa Press.

This price is the result of adding the average price of the auction in the wholesale market (138.62 euros per megawatt hour) to the compensation that the demand will pay to the combined cycle plants for the application of the Iberian exception to cap the price of gas for electricity generation (151.17 euros/MWh).

The maximum price of electricity for this July 10 is registered between 10:00 p.m. and 11:00 p.m., with 184 euros/MWh, while the minimum for the day, of 116.62 euros/MWh, will be between 5:00 p.m. 6:00 p.m.

Without the mechanism of the Iberian exception to cap the price of gas for electricity generation, the price of electricity in Spain would have been an average of around 329 euros/MWh, which is around 40 euros/MWh more than with the compensation for customers of the regulated rate, who will thus pay around 12% less on average.

Compared to a year ago, the price of electricity for customers of the regulated rate for this Sunday is 220% more compared to 93.5 euros/MWh on July 9, 2021.

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