The average price of electricity in the wholesale market will rise again today, Monday, April 11, in the province of Santa Cruz de Tenerife (Tenerife, The Palm, La Gomera Y The iron) with an increase of 2.38% regarding Sunday, and will be 163 euros per megawatt hour (MWh).
Specifically, the average price of the ‘pool’ for this Monday will be 163.13 euros/MWh, four euros more expensive than the 159.33 euros/MWh of yesterday, Sunday, according to data published by the Iberian Energy Market Operator ( OMIE) collected by Europa Press.
In this way, the wholesale electricity market maintains a truce that began on Friday, when it registered a price –154.7 euros/MWh– which was the lowest since last February 19, before the start of the war in Ukraine.
The maximum price of light for this Monday it will be between at 8:00 p.m. and 9:00 p.m., with 270.2 euros/MWh, and the minimum, of 55.1 euros/MWh, will be given between 3:00 p.m. and 4:00 p.m..
Compared to just a year ago, the pool price for this Monday will be 213.65% higher than the 52.01 euros/MWh of April 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.
On March 29, the Government approved a national plan to deal with the impact of the war in Ukraine which includes, among other measures, the extension of the tax reduction on the taxes levied on the electricity bill until June 30, as well as the extension of the electricity social bond to reach 1.9 million beneficiary households.
Gas cap of 30 euros
Furthermore, the governments of Spain and Portugal have submitted a proposal proposal to the European Commission 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 this is a joint proposal formulated by both governments and subject to negotiation with the European authorities.
In the event that the proposal is accepted, Ribera has predicted that the price of electricity 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 ” agrees well” with the joint proposal 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.
