Most expensive Monday for electricity in Spanish history

The price of electricity in Spain and Portugal on Friday, April 29. Image: pexels

Most expensive Monday for electricity in Spanish history

Electricity prices continue to spiral out of control across Europe. After the most expensive Saturday and Sunday prices in history, tomorrow, Monday, December 13, will see a record cost in Spain for Mondays.

According to data from the Iberian Electricity Market Operator (OMIE), and reported by Europa Press, the average price of electricity in the wholesale market on Monday 13 will reach €268.21/MWh. This is an increase of 4.37 per cent on today’s price (Sunday 12), of €256.98/MWh.

The record costs this weekend come despite the fact that prices tend to relax compared to weekdays, due to the decrease in electricity demand. Today, Sunday 12, it set a new record, being the most expensive in history, while yesterday, Saturday 11, it stood at €239.53/MWh, another record.

Monday’s maximum price will be reached between 9pm and 10pm, when it will hit €315.43/MWh. The cheapest time will be between the hours of 5am and 6am, at €217.71.

Prices of the ‘pool’ have a direct impact on the regulated tariff – the PVPC – to which almost 11 million consumers in the country are connected. This serves as a reference for the other 17 million who have contracted their supply in the free market.

The constant rise in prices in the electricity market in recent months is being blamed mainly on high gas prices, and carbon dioxide (CO2) emission rights, which are both at record highs this year, as reported by lasprovincias.es.

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Written by

Chris King

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. Got a news story you want to share? Then get in touch at [email protected]

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