price of Electricity fell by more than 36% this Sunday to 192.4 euros per megawatt (MWh), its lowest price since last June 26, or pool and an adjustment to be paid after the gas cap to compensate plants that use this material.
In addition, according to data from the Iberian Energy Market Operator (OMIE) and the Iberian Gas Market (MiBGAS), the wholesale price of electricity (paid by consumers with a regulated tariff) will be around €65 less than €257.38. on which MWh would have been paid had the gas limit for power generation not been included.
This new drop, the fourth in a row, comes after Russian gas giant Gazprom indefinitely suspended transit of gas to Europe via the Nord Stream 1 gas pipeline due to an oil leak found in turbines.
However, during Electricity has set record prices in European markets in recent monthsThe 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.
Widespread decline in major European economies
For this Sunday, the general decline in prices in the main European economies will continue, although abnormally high level As a result of the war in Ukraine.
The highest price will be recorded in Italy, 395.23 Euro/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 gas limits also apply on the basis of the so-called “Iberian exception”, the auction price will be the same as in Spain, a country with which it shares a market.
In the case of consideration only without including the results of the auction in the wholesale market Adjustment to be paid by beneficiaries of gas cap To compensate for plants using this material, electricity would increase by 23%, reaching 146.62 EUR/MWh. According to the time slot (not 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, to these amounts should be added the cost of accommodating gas plants, the amount of which varies depending on the volume required by the system and its price. The provisional average adjustment for consumers will be EUR 45.78/MWhWith which the final price will be 192.4 EUR/MWh, 43% higher than a year ago.