The average price of electricity in the wholesale market will rise today Friday, April 22, 28.48% compared to yesterday, Thursday, with which again exceeds 200 euros per megawatt hour (MWh), a level below which it had been maintained since April 15.
Specifically, the average price of the ‘pool’ for this Friday in the province of Santa Cruz de Tenerife (Tenerife, The Palm, La Gomera Y The iron) will stand at 207.77 euros/MWh, after becoming 46.05 euros more expensive compared to 161.72 euros/MWh this Thursday and 122.58 euros in relation to 85.19 euros/MWh on Wednesday this week (the minimum so far this year), according to data published by the Iberian Energy Market Operator (OMIE) and collected by Europe Press.
The maximum electricity price for this April 22, it will be between 08:00 and 09:00, with 244.1 euros/MWh, while the minimum will be 176.09 euros/MWh and will be recorded between 04:00 and 05:00.
In this way, the price for this Friday away from the brief respite on Wednesday this weekwhen the ‘pool’ registered an average price of 85.19 euros/MWh, the lowest since last October 31.
The lower price of the wholesale market in the last week, where the lowest values have been registered so far in 2022, has coincided with a relief in the price of natural gas and a greater contribution of renewable energies in generation .
However, in the last two days the average price of electricity It has increased by 143% in relation to the annual minimum registered last Wednesday.
Compared to a year ago, The average price of electricity for this Friday will be 179.22% more expensive than the 74.41 euros/MWh of April 22, 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 found that in 2021, within the framework of the upward spiral of energy, around 1.25 million people switched from the PVPC to a tariff in the free market at a fixed price.
Approval of the ‘Iberian exception’ in May
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/MWh for power generation plants in order to lower the price of electricity.
In this sense, the third vice president of the Government and minister for the Ecological Transition, Teresa Ribera, highlighted this Thursday that they are working so that “at the beginning of May” the agreement can be “approved and already applied” so that there is an ‘exception Iberian’ to the price of energy.
Asked if he expects Brussels accept the conditions of Spain and Portugal, Ribera has pointed out that the members of the European Commission want “to be sure that the proposal is the best, as robust as possible”. “Evidently, when one goes to a negotiation process in these conditions, one knows that it is very possible that there are aspects that are modulated, that are nuanced.“, added the minister.
In addition, 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 electric bill until next June 30, as well as the extension of the electricity social bond to reach 1.9 million beneficiary households.
An early and extraordinary update of the regulated remuneration regime for renewables, cogeneration and waste (Recore) was also adopted with an adjustment of 1,800 million euros with which the charges on the electricity bill are lowered.
Another of the measures agreed by the Executive was an extension until June 30 of the reduction in gas to reduce extraordinary profits in the electricity market, expanding its scope of application to energy contracted on a term basis and at a fixed price from the entry of the norm if said price is higher than 67 euros/MWh.
