On Saturday, the price of electricity fell to 56 euros per megawatt hour, the cheapest in 17 months
It is about four times lower than in France, Italy and Germany.
The average price of electricity in our country will drop significantly on Saturday, to 55.98 euros per megawatt hour (MWh), The lowest level since June 2021. It’s even less than half a day (€114.52).
These 55.98 euros are the result of subtracting from the auction price on the wholesale market (67.38 euros) the compensation to the gas companies (11.4 euros) for the so-called ‘Iberian exception’, a mechanism that sets it at 40 euros the cost of gas used in the production of electricity. Specifically, compensation for gas companies on Saturday (-11.4 euros) is the highest with a negative sign since this system began operating on June 15th.
The price in Spain is approx Four times cheaper Compared to France, Italy and Germany, according to the map prepared by the Ministry of Ecological Transition. It shows 67.4 euros for our country, because Teresa Ribera’s department always sets the auction price without adding or subtracting, as in this case, the compensation of the gas companies.
The decrease in price in Spain is due to an increase in generation Wind and nuclearwhich makes it necessary to reduce the production of gas stations, which are the most expensive generation “mix”.
Moreover , Electricity consumption In the first half of this month, it was down 9% compared to the same period in 2021. In the past two months, demand has been below the daily average of 600 GWh, something not seen since the hardest months of confinement during the pandemic, according to ASE Group analysts. .
Behind this trend are high temperaturesAnd moderation in household consumption due to higher prices and lower industrial consumption, which in September reached 10%. Likewise, the drive for self-consumption, which is on track to break another record and surpass 1,500 installed megawatts, would explain part of the decline.
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