The electricity will rise 20% tomorrow to 286 euros per megawatt hour (MWh), according to the results of the auction in the wholesale market and the adjustment to be paid after the gas cap to compensate the plants.
According to the operator OMIE electricity market and the Iberian Gas Market (Mibgas)the wholesale price of electricity (the one paid by consumers with a regulated tariff) will be 45 euros lower than the 331.4 euros at which the MWh would have been paid if the cap on gas for electricity generation had not been in place.
In this sense, the Third Vice President of the Government, Teresa Ribera, assured this Wednesday that consumers are paying between 20% and 30% less electricity than what they would pay “in the absence of the measures adopted by the Government, including the so-called Iberian mechanism.
In a context marked by the energy crisis that Europe is suffering after the Russian invasion of Ukraine, Brussels prepares a plan that will serve to reduce energy consumption during peak hours, limit the remuneration of renewables and nuclear and establish a tax on the extraordinary profits of energy companies.
In parallel, work on a far-reaching reform of the energy market in the longer term to decouple gas-based generation from renewablesIt is that, according to the president of the Community Executive, Ursula Von der Leyen, it will arrive “at the end of this year”.
For tomorrow, within the main European economies, the highest price will be recorded once again in Italy, where it will reach 416 euros/MWh.
In France, the MWh will stand at 409 euros, slightly above the 388 euros that will be paid in Germany.
For its part, in United Kingdom will reach 240.7 pounds/MWh (about 277 euros at the current exchange rate).
In Portugal, where also the cap is applied to gas under the so-called “Iberian exception”, the auction price will be the same as in Spain, a country with which it shares a market.
Auction and adjustment
If only the results of the auction in the wholesale market are taken into account, without including the adjustment that the beneficiaries of the gas cap must pay to compensate the plants that use this material, electricity will rise by around 28% to stand at 175.4 euros/MWh.
By time slots (excluding the aforementioned adjustment), the most expensive price will be reached between 8:00 p.m. and 9:00 p.m., with 250 euros/MWh; while the cheapest will be registered between 3:00 p.m. and 5:00 p.m., with 138.7 euros.
However, to these amounts must be added the cost of adjusting the gas plants, the amount of which varies depending on the volume needed by the system and its price, and affects beneficiary households and businesses.
For tomorrow, The provisional average adjustment for consumers will be 110.6 euros/MWh, with which the final price will be 286 euros/MWh, 63% more than a year ago.