Average price of electricity keeps falling in Spain on Monday, December 19

On Monday, December 19, the average price of electricity drops by 15.45 per cent.

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will fall by 15.45 per cent on Monday, December 19, compared to this Sunday 18. Specifically, it will stand at €93.36/MWh. This marks the month’s lowest level so far.

According to provisional data from the Iberian Energy Market Operator (OMIE), in the auction, the average price of energy in the wholesale market – the so-called ‘pool’ stands at €81.07/MWh.

Monday’s maximum price will be registered between 8pm and 9pm, at €130/MWh, while the minimum, of €41/MWh, will occur between 3am and 4am.

To this ‘pool’ price is added the compensation o €12.29/MWh to the gas companies. This must be paid by consumers who are beneficiaries of the measure, consumers of the regulated tariff (PVPC), or those who, despite being in the free market, have an indexed rate.

In the absence of the ‘Iberian exception’ mechanism to cap the price of gas for electricity generation, the price of electricity in Spain would be around €204.62/MWh on average. That would be around €111.26/MWh more than with the compensation for regulated rate customers, who will pay 54.37 per cent less on average as a result.

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