The price of electricity will fall this Sunday by 12.30%, to 167.06 euros/MWh

MADRID, 11 Jun. (EUROPA PRESS) -

The average price of electricity in the wholesale market fell 1.98% this Saturday compared to Friday, although it remains above the level of 190 euros per megawatt hour (MWh).

Specifically, the average price of electricity this Saturday stands at 190.5 euros/MWh, that is, 3.85 euros cheaper than the price this Thursday (194.35 euros), according to data published by the Operator of the Iberian Energy Market (OMIE) and collected by Europa Press.

The maximum price of electricity on this Saturday, June 11, is recorded between 10:00 p.m. and 11:00 p.m., with 233.22 euros/MWh, while the minimum for the day, 159 euros/MWh, occurs between 4:00 p.m. and 5:00 p.m.

Compared to a year ago, the average price of electricity for this Saturday is 130.8% more expensive than the 82.53 euros/MWh of June 11, 2021.

The prices of the 'pool' have a direct impact on the regulated rate --the so-called PVPC--, to which almost 11 million households in the country are covered, and serve as a reference for the other 17 million who have contracted their supply in the free market.

In fact, the National Commission of Markets and Competition (CNMC) has verified that in 2021, in the framework of the upward spiral of energy, around 1.25 million people switched from the PVPC to a rate in the free market at a fixed price.

In mid-May, the Official State Gazette (BOE) published the Royal Decree-Law establishing the mechanism to limit the price of gas for electricity generation to an average of 48.8 euros per megawatt/hour (MWh ) for a period of twelve months, thus covering the next winter, a period in which energy prices are more expensive.

Finally, the mechanism received the green light from Brussels on Wednesday and has been initialed this Thursday by an Ecological Transition order for its application.

The so-called 'Iberian exception' will apply from the electricity market auction next Tuesday, June 14, and will affect the wholesale electricity market matching that will be held that day to set the prices for the following day, Wednesday, June 15. June.

The Government limits in its calculations to 15.3% the reduction to the average electricity consumer covered by the PVPC regulated rate during the 12 months of application of the approved cap on the generation of electricity from natural gas, according to the report of impact that accompanies the decree law and to which Europa Press has had access.

For the industrial consumer, totally exposed to the 'spot' price, the Government estimates a reduction in the invoice of between 18% and 20%, the first month of the mechanism oscillating between 15% and 17%, and between 13 % and 15% in the latter.