Electricity falls 23% this Tuesday to 221 euros/MWh

Electricity has dropped this Tuesday by 23% to 221.02 euros per megawatt hour (MWh), according to the results of the auction in the wholesale market or “pool” and the adjustment to be paid after the gas cap to compensate the plants that use this material.

According to the electricity market operator OMIE and the Iberian Gas Market (Mibgas), the wholesale electricity price (the price paid by consumers with a regulated rate) will be around €96 lower compared to the 316.59 euros at which the MWh would have been paid if the cap on gas for electricity generation had not been included.

In a context marked by the energy crisis facing Europe due to the Russian invasion of Ukraine, the energy ministers of the Twenty-seven agreed last week to reduce electricity consumption and tax the profits of energy companies.

In addition, they also asked the European Comission proposals to study an “emergency and temporary intervention” in the electricity market, including a cap on the price of gas imported from Russia. For tomorrow, within the main European economies, the highest price will be registered again in Italy, where it will reach 456.94 euros/MWh.

In France, the MWh will stand at 444.21 euros/MWh, above the 392.37 euros/MWh that will be paid in Germany. In the case of United Kingdom, tomorrow the electricity will be at 339.47 pounds/MWh (about 391 euros at the current exchange rate).

In Portugal, where the cap on gas is also applied by virtue of the so-called “Iberian exception”, the auction price will be the same as in Spain, a country with which it shares a market.

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