By Chris King • 11 December 2021 • 21:22
Electricity price in Spain to skyrocket again on Monday, January 10.
Electricity prices in Spain are fluctuating every day, making it increasingly more difficult for consumers to organise themselves. When it comes to putting the washing machine, iron, or turning on the heating, there seems to be no predetermined pattern to follow.
According to data from the Iberian Electricity Market Operator (OMIE), tomorrow, December 12, electricity consumers in Spain can look forward to what will be the most expensive Sunday in history. The average price will reach €256.98/MWh, an increase of 7.29 per cent on today, Saturday 11.
Today’s price of €239.98/MWh, has also been the most expensive Saturday ever, as reported by Europa Press. This is despite the fact that weekends are normally a cheaper rate, due to the decrease in electricity demand.
Sunday’s price of electricity in the wholesale market will be 85.89 per cent more expensive than that registered on December 12, 2020. The maximum price of €298 tomorrow, will be between 7pm and 8pm, while the cheapest will be the hour between 4am and 5am, which will be €218.01.
These prices of the ‘pool’, have a direct effect on the regulated tariff – the PVPC – to which almost 11 million consumers in the country are connected. It serves as a reference for the other 17 million who have contracted their supply in the free market.
Inflated prices are being blamed on high gas prices in the markets, and carbon dioxide (CO2) emission rights, which are also both at record highs this year, as reported by lasprovincias.es.
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Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news.
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