The price of electricity falls this Sunday and there will be nine hours at zero euros
The average price of electricity for regulated rate customers linked to the wholesale market will fall this Sunday by 22.57% compared to this Saturday, standing at 39.58 euros per megawatt hour (MWh), the lowest price in the last month, while up to nine hours will be marked at zero euros.
Specifically, the daily price of electricity for this Sunday will be the lowest so far in May and the minimum registered since April 16.
By time slots, the minimum price, of zero euros/MWh, will be given between 09:00 and 18:00, while the maximum price will be recorded between 22:00 and 23:00, with 98.96 euro/MWh.
To this average price of the 'pool' would be added the compensation to the gas companies, which must be paid by the consumers who are beneficiaries of the measure, the consumers of the regulated tariff (PVPC) or those who, despite being in the free market , have an indexed rate, but for this Sunday it will again be at 0 euros/MWh, a situation that has been repeated since February 27.
The average price of electricity so far in May is around 79.75 euros/MWh, compared to 192.50 euros/MWh registered in the same period last year.
The so-called 'Iberian exception' has been extended until December 31, after the agreement reached by Spain and Portugal with the European Commission. Thus, it is extended for seven months, until the end of this year, and it is not excluded that it could be extended for a longer time if said framework is also extended.
Specifically, the agreement not only represents an extension of the Iberian exception that was already applied, but also implies some adjustments to accommodate it, such as the price reference, which until now increased by five euros per month, and will now be smoother.
In the original agreement, the aforementioned reference price for gas had an average value of 48.8 euros/MWh: it was 40 euros/MWh for six months, rising 5 euros/MWh every month thereafter. Now, it will increase by 1.1 euros/MWh from April, to conclude at 65 euros/MWh. For this month of May, the limit is set at 57.2 euros/MWh.
Currently, the mechanism has had no effect on the marginal matching processes in the wholesale markets since the end of February, due to the drop in the price of natural gas below the thresholds set for its application, but, if necessary, the extension will allow maintain a reasonable price, not so dependent on the evolution of natural gas.