By Ron Howells • Published: 29 Sep 2021 • 9:26
The price of electricity in Spain and Portugal on Monday, May 2.
Electricity prices in Spain reach their highest in September.
The continuing price rise of electricity in the wholesale market (pool) remains unstoppable which today, Wednesday, September 29, reaches 189.9 euros per megawatt-hour (MWh). This represents a new all-time high for the eighth day in a row in September, even surpassing the 4% rise registered yesterday.
The price this Wednesday is the highest historically registered, more than the 188.18 euros / MWh that reached the wholesale market on September 16, and the 182.71 euros / MWh that the pool marked up yesterday.
In addition, today’s price triples the amount that was paid during the fifth Wednesday of September of last year when it was 49.15 euros / MWh.
The prices of the wholesale market has a direct impact on the regulated tariff or PVPC, to which almost 11 million consumers in Spain are joined, and serves as a reference for the other 17 million who contract their supplies in the free market.
By time intervals, the maximum price for today will be registered between 9:00 p.m. and 10:00 p.m., being paid at 208.47 euros / MWh, while the minimum will be 167.47 euros / MWh between 4:00 and 5:00 am.
With this new rise, the average price of electricity so far in September stands at 155 euros / MWh, 46% above the almost 106 euros / MWh with at the end of August, the most expensive in history.
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Ron actually started his working career as an Ophthalmic Technician- things changed when, during a band rehearsal, his amplifier blew up and he couldn’t get it fixed so he took a course at Birmingham University and ended up doing a degree course. He built up a chain of electronics stores and sold them as a franchise over 35 years ago. After five years touring the world Ron decided to move to Spain with his wife and son, a place they had visited over the years, and only bought the villa they live in because it has a guitar-shaped swimming pool!. Playing the guitar since the age of 7, he can often be seen, (and heard!) at beach bars and clubs along the length of the coast. He has always been interested in the news and constantly thrives to present his articles in an interesting and engaging way.
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