By Chris King • Published: 25 Dec 2021 • 2:48
The price of electricity in the wholesale market (pool) for December 25, Christmas Day, will be an average of €226.42/MWh. Although this marks a drop of 27 per cent on the Christmas Eve price, it is still the most expensive Christmas day in Spanish history.
Some relief is the fact that for the first time in the last ten days, the cost of energy has fallen below the barrier of €300/MWh.
According to data from the Iberian Electricity Market Operator (OMIE), the maximum price today will be recorded between 9pm and 10pm, when it will be €315.12/MWh. The minimum will be €125, 31/MWh between 5am and 6am.
As a result of the cost, this Christmas Day will be a staggering 14 times higher than last year, when the price was €16.04/MWh.
Electricity in December, so far, stands at an average cost of €260.10 euros/MWh, which is €60 higher than the €200.06 of October, which at the time was the most expensive month ever recorded.
If this trend is maintained, then 2021 will close with an average price above €113/MWh, more than triple last year, which was the cheapest in the past 17 years.
High prices of gas in the international markets, and that of carbon dioxide (CO2) emission rights are being blamed for the spiralling prices of electricity.
There is a similar situation in other European countries. In the United Kingdom, today’s megawatt-hour will cost €195.15 pounds (€231), while in Germany it will be €198.29, France at €218.11; Italy at €219.02, while Portugal has the same price as Spain, by sharing the market, as reported by laopiniondemalaga.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. Got a news story you want to share? Then get in touch at editorial@euroweeklynews.com
These numbers are rather like COVID statistics, probably accurate but useless at giving meaningful information. Does anyone know what these translate to on your bill, ie the high, medium and low rates per KWh? In the dark ages they were about 24c, 14c and 10c.
Dear Mr King, I would be most grateful if you would explain why you invite comments when it appears you have little intention of publishing them. I realise that racist, homophobic and other categories of illegal comments would be rejected but of the comments I have submitted only one has been displayed. Your censorship appears extreme. I look forward to your reply with bated breath.
It’s because each comment is read to ensure that it’s is within the boundaries of decency. Sorry but I took Christmas Day off so only just got around to reading all of the comments and approving this and your last one.
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