The average price of electricity in the wholesale market will decrease by 15.77% today Thursday, April 7, compared to yesterday Wednesday, which means the second consecutive fall and its lowest record for two weeks, specifically, since March 23.
The average price of the ‘pool’ for this Thursday will be 214.79 euros, 40.2 euros cheaper than the 254.99 euros/MWh on Wednesday, according to data published by the Iberian Energy Market Operator (OMIE) collected by Europe Press.
The maximum price of light for today it will be given between 08.00 hours and 09.00 hours, with 270 euros/MWh, while the minimum, of 165.46 euros/MWh, will be registered between 04:00 and 05:00.
Compared to just a year ago, the pool price for this Thursday will be 224.89% higher than the 66.11 euros/MWh of April 7, 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, within 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.
On March 29, the government approved a national plan to deal with the impact of the war in Ukraine that includes, among other measures, the extension of the tax reduction on taxes levied on the electricity bill until June 30, as well as the extension of the bonus social electricity until reaching 1.9 million beneficiary households.
Gas cap of 30 euros
In addition, the governments of Spain and Portugal have submitted a preliminary proposal to the European Comission to establish a reference price for gas of 30 euros per MWh in order to lower the price of electricity.
The Third Vice President and Minister of Ecological Transition, Theresa Riverahas made it clear that it is a joint proposal formulated by both governments and subject to negotiation with the European authorities.
If the proposal is admitted, Ribera has predicted that the electricity price it may be limited “in three or four weeks”, for which he has pointed out that “you have to be patient” because it is necessary that in this time “the joint proposal settles well” and that the “technical concerns of good functioning that may exist are well reflected.
If it goes ahead, the proposal would have repercussions on pool prices due to its impact, among other issues, on the sales offers made daily in the wholesale market by combined cycle plants, which generate electricity with gas.
