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HomeLatest NewsThe price of electricity rises tomorrow Wednesday and marks the second highest...

The price of electricity rises tomorrow Wednesday and marks the second highest in all of June

Date: March 1, 2024 Time: 06:16:41

The average price of the electricity bill for regulated rate customers who are linked to the wholesale market will rise tomorrow, Wednesday, by 4.76% compared to Tuesday. The average price per megawatt hour (MWh) will be 117.06 euros, which makes it the second highest price since the beginning of June.

122.42 euros/MWh of last day 16. The average of the ‘pool’ of electricity so far in June, despite the rebound registered, stands at 90 euros/MWh, compared to 169 euros/ MWh that marked in June a year ago.

To this average price of the ‘pool’ would be added the compensation to the gas companies, which must be paid by the consumers who are beneficiaries of the measure, the consumers of the regulated tariff (PVPC) or those who, despite being in the free market , have an indexed rate, but which are again at 0 euros/MWh, a situation that has been repeated since February 27.

The so-called ‘Iberian exception’ has been extended until December 31, after the agreement reached by Spain and Portugal with the European Commission. Thus, it is extended for seven months, until the end of this year, and it is not excluded that it could be extended for a longer time if said framework is also extended.

Specifically, the agreement not only represents an extension of the Iberian exception that has already been applied, but also implies some adjustments to accommodate it, such as the price reference, which until now increased by five euros per month, and will now be smoother.

In the original agreement, the aforementioned reference price for gas had an average value of 48.8 euros/MWh: it was 40 euros/MWh for six months, rising 5 euros/MWh each month thereafter. Now, it will increase by 1.1 euros/MWh from last April, to conclude at 65 euros/MWh.

Currently, the Mechanism has had no effect on the Marginal Matching Processes in the Wholesale Markets at the end of February, due to the drop in the price of Natu Natural Gas below the thresholds set for its application, but, if necessary, the extension It will allow maintaining a reasonable price, not so dependent on the evolution of natural gas.

By time slots, the minimum price, of 95.78 euros/MWh, will be given between 2:00 p.m. and 3:00 p.m., while the maximum price will be recorded between 10:00 p.m. and 11:00 p.m., with 151 .15 euros/MWh.

These are the most expensive and the cheapest prices

From 00:00 to 01:00: 121.99 euros/MWh. From 01:00 to 02:00: 110.7 euros/MWh. From 02:00 to 03:00: 104.7 euros/MWh .From 03:00 to 04:00 hours: 103.89 euros/MWh.From 04:00 to 05:00 hours: 103.74 euros/MWh.From 05:00 to 06:00 hours: 106.98 euros/ MWh. From 06:00 to 07:00: 123.4 euros/MWh. From 07:00 to 08:00: 137.67 euros/MWh. From 08:00 to 09:00: 139.51 euros /MWh. From 09:00 to 10:00: 126.01 euros/MWh. From 10:00 a.m. to 11:00 a.m.: 114.07 euros/MWh. From 11:00 a.m. to 12:00 p.m.: 110.07 euros/MWh. From 12:00 p.m. to 1:00 p.m.: 104.57 euros/MWh From 1:00 p.m. to 2:00 p.m.: 99.73 euros/MWh. From 2:00 p.m. to 3:00 p.m.: 95.78 euros/MWh. MWh. From 4:00 p.m. to 5:00 p.m.: 100.12 euros/MWh. From 5:00 p.m. to 6:00 p.m.: 113.44 euros/MWh. From 6:00 p.m. to 7:00 p.m.: 108.1 euros /MWh. From 7:00 p.m. to 8:00 p.m.: 116.47 euros/MWh. From 8:00 p.m. to 9:00 p.m.: 135.3 euros/MWh. From 9:00 p.m. to 10:00 p.m.: 148.06 euros/MWh. From 10:00 p.m. to 11:00 p.m.: 151.15 euros/MWh. From 11:00 p.m. to 12:00 a.m.: 134.79 euros/MWh.

Green light to the new PVPC regulated rate

Last Tuesday, the Council of Ministers discovered a modification of the Voluntary Price for Small Consumers (PVPC), which will be effective as of January 1, 2024. The reason behind this measure is to reduce instability in electricity prices , which has intensified since the summer of 2021 due to the increase in gas and CO2 emission rights. This situation has been aggravated by Russia’s invasion of the Ukraine.

The new regulated tariff will consider stable correction factors to reflect the daily market price, which will make it possible to establish prices further into the future for three months and one year. This will allow a basket of prices in the medium and long term to avoid drastic fluctuations, but without neglecting short-term price references that promote saving and efficient consumption.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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