Electricity price in Zaragoza Saturday 27 August and more Latest news here

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That average electricity price for customers with regulated tariffs connected to the wholesale market up 21.2% this Saturday in relation to this Friday, until €385.85 per megawatt hour (MWh), according to preliminary data from the Iberian Energy Market Operator (OMIE) collected by Europa Press.

This price is obtained by adding the auction average on the wholesale market to the compensation that demand pays to combined cycle power plants for applying the “Iberian Exception” capping the price of gas for electricity generation. This way the price will go back up, after the last two days of falls. However, the level for this Saturday remains the same away from the heights since the entry into force of the “Iberian exception” they marked last Tuesday and Wednesday when it rose to 436.25 euros/MWh.

In the auction, the average electricity price on the wholesale market – the so-called “pool” – for this Saturday was placed at 160.04 euros/MWh. That The maximum price is registered between 10:00 p.m. and 11:00 p.m. at 242.82 euros/MWhwhile the daily minimum of 127 Euro/MWh is between 12:00 and 13:00

To this price of the “pool” is added the compensation payment of 225.81 euros/MWh to the gas companies, paid by the consumers benefiting from the measure, the consumers of the regulated tariff (PVPC) or those who are on the open market they must have an indexed interest rate.

This spiral of high electricity prices that has been occurring throughout this week has been fueled by some price level from natural gas in maximamainly due to Gazprom’s announcement that it will stop gas production to Germany for three days from August 31.

21.6% less

Without the “Iberian Exception” mechanism to cap the price of gas for electricity generation, the average electricity price in Spain would be around 492.18 euros/MWh, which is around 106.33 euros/MWh more than with the compensation for customers of the regulated Tarifs that pay like this 21.6% less on average

The “Iberian Mechanism”, which came into force on June 15, limits the gas price for electricity production to an average of 48.8 euros per MWh over a twelve-month period, covering the coming winter, a period when energy prices are more expensive . In particular, the “Iberian Exception” lays out a pathway for natural gas to generate electricity from a Price of 40 euros/MWh in the first six monthsand then a monthly increase of five euros/MWh until the end of the measure.

The Government considers that the “Iberian exception” meant a Savings of 1,383 million euros for Spanish consumers in the first two months of validity. This figure represents a saving of 22 million euros per day for Spanish society since the mechanism came into force.

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