The price of electricity rises 0.8% tomorrow and stands at € 185.74 / MWh

© Provided by Agencia EFE

Madrid, Oct 12 (EFE) .- The average price of electricity in the wholesale market (pool) rises slightly again for tomorrow, Wednesday, 0.8% compared to Tuesday, which is a holiday, and stands at 185 , 74 euros / megawatt hour (MWh), according to data from the Iberian Electricity Market Operator (OMIE).

By time bands, electricity will be more expensive tomorrow between 8:00 p.m. and 9:00 p.m., when it will cost 240 euros / MWh, and cheaper between 4:00 and 5:00 a.m., when it will be at 132.43 euros / MWh.

The price of electricity for tomorrow is 4.5 times higher than that of the same day in 2020 (40.47 euros / MWh) and almost five times that of October 13, 2019 (before the pandemic), when it was 37, 97 euros / MWh.

With the prices of this week, marked by the lower activity in the Pilar bridge, the average so far in October stands at 199.54 euros / MWh, below the 200 euros / MWh in which it was maintained , after three records have been broken in the first twelve days of the month and the light has been above 200 euros / MWh for six days.

Even so, this average of 199.54 euros / MWh exceeds the 156.14 euros / MWh with which September ended, to date the most expensive month in history in the wholesale market.

The prices of the wholesale market have a direct effect on the regulated tariff or PVPC, to which almost 11 million consumers in Spain are welcomed, and serves as a reference for the other 17 million who contract their supply in the free market.

In the case of the PVPC, the weight of the electricity price in the wholesale market in the bill is 24%, the rest corresponding to the tolls and charges that cover the costs of the system and energy policies, and to taxes – such as VAT or the electricity tax, which the Government has lowered to try to mitigate the impact of the high pool prices on the bill of these consumers.

The price escalation that affects a large part of Europe is due, among other factors, to the rising cost of gas in international markets, which is used in combined cycle plants and which sets the market price in most hours, and the increase in the price of carbon dioxide (CO2) emission rights.

In fact, tomorrow several European countries will exceed the daily average of the Spanish wholesale price.

In the United Kingdom, with an isolated electricity system, it will be 190 pounds / MWh (223.9 euros / MWh), and in France and Germany, where prices are usually lower than in Spain, they will also exceed the Spanish price, with a daily average of 194.28 euros / MWh in France and 188.24 euros / MWh in Germany.

The price will also be higher in Italy -a country more comparable to Spain due to its geographical location-, where it will reach 215.78 euros / MWh.

As regards gas, its price in the Iberian Gas Market for today, Tuesday, has fallen 2.98 euros / MWh, 3.5%, and has stood at 83.02 euros / MWh.

(c) EFE Agency

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