The price of electricity on the wholesale market (pool) is set for tomorrow, May 15, at 127.23 euros per megawatt hour (EUR/MWh), which represents a decrease of more than 33% compared to the fixed value for this Saturday . what will be the lowest price this month. According to the Iberian Electricity Market Operator (OMIE), the maximum price will be recorded tomorrow. from 21:00 to 22:00, when will be 226.18 EUR/MWh and the minimum will be EUR 1.03/MWh from 15:00 to 17:00.
Thus, the price for tomorrow, Sunday, the day of the week when economic activity is down and energy demand is lower, will be the lowest this month, and the cheapest since April 23 last year, when electricity was paid at 86.25 euros/MWh. Despite this fall, for the second consecutive time, the price of electricity is five times higher than the amount recorded on the third Sunday of May of the previous year (26.65 euros), although it remains 38% lower than on February 24. when the Russian invasion of Ukraine began.
Wholesale market prices have a direct impact on the regulated tariff, or PVPC, which covers more than 10 million consumers in Spain and serves as a benchmark for the remaining 18 million who enter into free market supply contracts. In this sense, the Russian invasion of Ukraine causes tension in the energy market, especially in the case of gas due to the risk that Russian imports to Europe will be slowed down by sanctions imposed by the European Union.
Government approved national response plan taking into account the economic and social consequences of the situation in Ukraine, which include the extension until June 30 of the tax exemption on the payment of electricity bills and the extension of the social premium for electricity up to 1.9 million households beneficiaries. In addition, following the recognition by the European Council of the difficulties that Spain and Portugal are facing due to high energy prices due to their low level of interconnection with the rest of the continent, both countries launched a mechanism that hewill simulate the price of gas for electricity generation for 12 months.
This mechanism, which will limit the price of gas 48.8 EUR/MWh on average for the duration of the measure, will allow the price of electricity in the wholesale market (pool) to fall by 40% to 130 euros per megawatt hour (MWh) from June, according to the executive’s calculations. As for the rest of the European countries, in the United Kingdom, a megawatt-hour tomorrow will be paid at an average of 103.41 pounds (about 122 euros), and in Germany – at 149.03 euros; in France – 147.72 euros; in Italy – 217.56 euros; and in Portugal at the same price as in Spain, by splitting the market.
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