Saturday, January 28

Electricity hours 2022: At what time is electricity cheaper and more expensive this Thursday?


EP

The average price of electricity in the wholesale market will rise 2% on Thursday compared to this Wednesday, consolidating above the level of 210 euros per megawatt hour (MWh) and reaching its highest level since last April 29 .

Specifically, the average price of electricity will be 214.74 euros/MWh this Thursday, some 4.29 euros more expensive than the price of this Wednesday (210.45 euros), according to data published by the Operator of the Iberian Energy Market (OMIE) and collected by Europa Press.

Thus, the maximum price of electricity on this second day of June will be registered between 10:00 p.m. and 11:00 p.m., with 256.46 euros/MWh, while the minimum for the day, of 171.85 euros/MWh, will take place between 4:00 p.m. and 5:00 p.m.

Compared to a year ago, the average price of electricity for this Thursday will be 153% more expensive than the 84.85 euros/MWh of June 2, 2021.

The prices of the ‘pool’ have a direct impact on the regulated rate –the so-called PVPC–, to which almost 11 million households in the country are covered, and serve as a reference for the other 17 million who have contracted their supply in the free market.

In fact, the National Commission of Markets and Competition (CNMC) has verified that in 2021, in the framework of the upward spiral of energy, around 1.25 million people switched from the PVPC to a rate in the free market at a fixed price.

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On May 14, the Official State Gazette (BOE) published the Royal Decree-Law establishing the mechanism to limit the price of gas for electricity generation to an average of 48.8 euros per megawatt/hour (MWh ) for a period of twelve months, thus covering the next winter, a period in which energy prices are more expensive.

However, the mechanism, despite its publication as Royal Decree-Law, is pending the formal decision of Brussels and to be initialed by an Ecological Transition order for its application.

The Government limits in its calculations to 15.3% the reduction to the average electricity consumer covered by the PVPC regulated rate during the 12 months of application of the approved cap on the generation of electricity from natural gas, according to the report of impact that accompanies the decree law and to which Europa Press has had access.

For the industrial consumer, totally exposed to the spot price, the Government estimates a reduction in the invoice of between 18% and 20%, the first month of the mechanism oscillating between 15% and 17%, and between 13% and 15% in the latter.

Despite this, the Minister for the Ecological Transition and the Demographic Challenge, Teresa Ribera, admitted this Monday that there is some “uncertainty” in calculating the exact reduction in the price of electricity once the cap on gas to generate electricity comes into force. , but maintains that the Executive’s forecast is that it will fluctuate between 15% and 20%.


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