The price of electricity will fall by 56% on December 31 to 30.06 euros Companies

The average electricity price for regulated tariff customers connected to the wholesale market on Sunday, December 31, will decrease by 56.06% compared to Saturday to EUR 30.06 per MWh. This is the second lowest price during the month of December after December 8, when it reached 21.78 euros/MWh.

The maximum price, EUR 101.3/MWh, will be recorded between 7:00 PM and 8:00 PM, while the minimum price, EUR 0.00/MWh, will be recorded between 4:00 AM and 6:00 PM. morning, according to provisional data of the Iberian Energy Market Operator (OMIE). In December, the average electricity pool price reached EUR 72.17/MWh, compared to EUR 96.95/MWh recorded on average in the same month of 2022, representing a 25% decrease year on year.

There has been no gas cap since the end of February

The compensation to gas companies will be added to the average “pooled” price, which must be paid by consumers benefiting from this measure, regulated tariff consumers (PVPC) or those who, despite being in the free market, have an indexation rate, but again At 0 €/MWh, a situation that has been repeated since February 27.

The so-called “Iberian exception” was extended until December 31, following the agreement reached by Spain and Portugal with the European Commission. And so it continues for seven months, until the end of this year, when it will finally retreat, as recently announced by the Third Vice President and Minister of Ecological Transition, Teresa Ribera.

Currently, the mechanism has not had any impact on marginal matching operations in wholesale markets since the end of last February due to the decline in the price of natural gas below the limits set for its application, but if necessary, the extension allows it to be maintained. Reasonable price, not highly dependent on natural gas development.

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