Electricity will rise 4% this Monday to 286.21 euros/MWh

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Electricity will rise 4% tomorrow to 286.21 euros per megawatt hour (MWh), according to the results of the auction in the wholesale market or “pool” and the adjustment to be paid after the cap on gas to compensate the plants that use this material.

According to the operator of the electricity market OMIE and the Iberian Gas Market (Mibgas), the wholesale price of electricity (the one paid by consumers with a regulated rate) will be around 60 euros lower than the 346.05 euros that the MWh would have been paid if the cap on gas for electricity generation had not been in place.

In a context marked by the energy crisis facing Europe due to the Russian invasion of Ukraine, the Ministers of Energy of the Twenty-Seven agreed this week to reduce electricity consumption and tax the profits of energy companies.

In addition, they have also asked the European Commission for proposals to study an “emergency and temporary intervention” in the electricity market, including a cap on the price of gas imported from Russia.

For tomorrow, within the main European economies, the highest price will be recorded again in Italy, where it will reach 451.31.

In France, the MWh will be at 416.88, above 408.03 will be paid in Germany.

In the case of the United Kingdom, electricity tomorrow will stand at 335.55 (about 383 euros at current exchange rates).

In Portugal, where the cap on gas is also applied by virtue of the so-called “Iberian exception”, the auction price will be the same as in Spain, a country with which it shares a market.

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AUCTION AND ADJUSTMENT

If only the results of the auction in the wholesale market are taken into account, without including the adjustment that the beneficiaries of the cap on gas must pay to compensate the plants that use this material, electricity will rise by nearly 9%, to reach at 175.63.

By time slots (excluding the aforementioned adjustment), the most expensive price will be reached between 9:00 p.m. and 10:00 p.m. with 240.01, while the cheapest will be registered between 2:00 p.m. and 3:00 p.m., with 135 euros.

However, to these amounts must be added the cost of adjusting the gas plants, the amount of which varies depending on the volume required by the system and its price, and affects households and beneficiary companies.

For tomorrow, the provisional average adjustment for consumers will be 110.58, with which the final price will be 286.21, twice as much as a year ago.

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