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Iberian mechanism
Decree-Law no. 33/2022 of 14th May establishes an exceptional and temporary mechanism to adjust electricity production costs which impacts on the generation of the electricity market price for the wholesale reference market of the Iberian Electricity Market (MIBEL).
In view of the prospect of maintaining the current geopolitical and economic scenario, on March 30 the Decree-Law no. 21-B/2023 was published, amending Decree-Law no. 33/2022 of 14 May.
DGEG now publishes daily, including weekends and holidays (data published on the next working day), information concerning the Iberian Mechanism, namely prices with and without the adjustment mechanism, based on data provided by OMIE and MIBGAS.
Daily values
| Average daily price in the spot market |
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€/MWh |
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| Adjustment average cost |
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€/MWh |
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| Final price after the application of the mechanism |
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€/MWh |
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| Price without the application of the mechanism |
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€/MWh |
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| Average daily savings generated by the application of the mechanism | click here |
€/MWh |
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Note: Values are provisional.
Sources:
Spot price (OMIE): https://www.omie.es/en/market-results/daily/daily-market/daily-hourly-price
Adjustement cost (OMIE): https://www.omie.pt/en/market-results/daily/average-final-prices/hourly-price-consumers?
Natural gas price (MIBGAS): https://www.mibgas.es/index.php/pt/file-access?path=AGNO_2023/XLS