Electricity will drop by more than 36% this Sunday to 192.4 euros per megawatt hour (MWh), Its lowest price since June 26An adjustment to be paid after the gas cap to compensate plants using this material, according to the results of the auction in the wholesale market or “pool”.
In addition, according to data from electricity market operator OMIE and Iberian Gas Market (MiBGAS), the wholesale price of electricity (paid by consumers with a regulated rate) will be around €65 less than €257.38. If there was no gas limit for power generation, MW would have been paid.
This new decline, the fourth in a row, comes after state-owned Russian gas giant Gazprom indefinitely suspended gas transit into Europe via the Nord Stream gas pipeline due to an oil spill found in turbines.
Despite Russian gas cuts, tomorrow’s price will be the lowest since June 26, when electricity was 178.38 euros/MWh, coinciding with the start of summer.
However, during the last few months Electricity sets record prices in European marketsThe month of August in Spain averages 308.63 Euro/MWh, making it the most expensive electricity month in history.
This has prompted the European Commission through its president Ursula von der Leyen to announce a few days ago that the Community Executive was studying a possible “emergency intervention” in the electricity market.
For Normal fall will continue on Sunday Prices in major European economies, however, will remain at unusually high levels as a result of the Russian invasion of Ukraine.
The highest price will be recorded in Italy, where it will fall again to 395.23 EUR/MWh, ahead of France with 322.73 EUR/MWh.
In the United Kingdom, an average price of 222.71 pounds/MW will be reached (about EUR 257 at the current exchange rate), compared to 242.71 EUR/MW in Germany.
in Portugal, where the cap on gas is also applied under the so-called “Iberian Exception”, auction price will be the same Compared to Spain, a country with which it shares a market.
Auctions and Settlements
In the case of only considering the results of the auction in the wholesale market, without including the adjustment that beneficiaries of the cap on gas would have to pay to compensate plants using this material, electricity would also increase by 23%, To reach € 146.62/MWh.
As of the time frame (and always without including the above adjustments), the maximum price will be recorded between 10:00 pm and 11:00 pm with EUR 252.02/MWh; Whereas the minimum will be 19.9 Euro/MWh between 4:00 PM and 5:00 PM.
However, on these amounts We have to add the cost of adjustment in gas plantsThe amount of which varies depending on the quantity required by the system and its price, and has implications for beneficiary households and companies.
For tomorrow, the provisional average adjustment for consumers will be 45.78 EUR/MWh, with a final price of 192.4 EUR/MWh, 43% higher than a year ago.