© Provided by Agencia EFE
Madrid, Apr 2 (EFE).- The price of electricity in the wholesale market has remained stable this Saturday following registering a rise of 0.1% to reach 225.08 euros per megawatt hour (MWh), according to data from the Operator of the Iberian Electricity Market (OMIE).
After this rise, the price of electricity is almost five times the amount it marked just one year ago (51 euros), and is more than 9% higher than the figures for February 24, when the war began in Ukraine .
By time bands, the maximum price for this Saturday, the day of the week in which economic activity decreases and energy demand is lower, will be registered between 9:00 p.m. and 10:00 p.m., with 300 euros/MWh, while that the minimum will be 93.69 euros/MWh between 17:00 and 18:00.
The price of electricity on the second day of April is around 21% below the average for March, the most expensive month in history, and doubles the average price of 2021 (111.4 euros/MWh).
Wholesale market prices have a direct impact on the regulated tariff or PVPC, to which almost 11 million consumers in Spain are covered, and serve as a reference for the other 17 million who contract their supply on the free market.
The Government has approved a national plan to respond to the economic and social consequences of the war in Ukraine that includes the extension of the tax reduction on taxes levied on the electricity bill until June 30, and the extension of the bonus social electricity until reaching 1.9 million beneficiary households.
In addition, the European Council recognized last week the difficulty of Spain and Portugal in coping with high energy prices, which will allow both countries to benefit from “special treatment” in their response, which involves setting a maximum price gas used to generate electricity.
As reported by the Third Vice President of the Government and Minister for the Ecological Transition and the Demographic Challenge, Teresa Ribera, both countries will propose to the European Commission that this limit be set at 30 euros/MWh.
(c) EFE Agency