Electricity price rises by 15% on the second day of gas cap

Electricity price rises by 15% on the second day of gas cap

It was the highest power level in just over two months, up from 265.02 euros on April 5.

Average electricity prices in the wholesale market will rise by 15.2% to €259.01/ MWh on Thursday, the second day after the so-called Iberian exception was applied to cap the price of natural gas for power generation.

It was the highest electricity level in more than two months, starting from 265.02 euros on April 5, coinciding with a rise in Iberian electricity prices, according to data published by the Iberian market operator Operador del Mercado Iberico de la Electricidad (OMIE ). . major European economies.

Specifically, tomorrow’s “pool” price is 170.81 euros/MWh, up 3.15% from Wednesday, while the average adjustment is 88.2 euros/MWh, close to 59.3 euros on the previous trading day.

In a few hours, this adjusted price increase will intensify between 6:00 and 7:00, when it will reach around EUR 116.9/MWh.

According to market information reviewed by Efe, only Italy and France will be more expensive in MWh than Spain tomorrow, at 276.74 and 272.85 euros respectively.

It is followed by the UK with electricity bills of £183.18 (approximately €211.54 at exchange rates) and Germany at €201.97/ MWh.

Heatwave causes prices to rebound
Teresa Ribera, the government’s third vice president and minister of ecological transition, has been defending the gas price cap in recent hours after criticism on the first day the mechanism came into effect.

In an interview with TVE, Ribera assured that the price increase was due to increased demand due to the heatwave. “Gas-fired power plants have increased production due to less wind power and lower solar production,” he noted.

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