Electricity price in Spain to skyrocket again on Monday, January 10

Electricity price in Spain to skyrocket again on Monday, January 10. image: wikimedia

Monday, January 10 will see an increase of 82.2 per cent on Sunday’s price of electricity

The price of electricity in Spain, in the wholesale market – or ‘pool’ – will rise again this Monday, January 10. Compared to €119.24/MWh today, Sunday, January 8, the cost will increase by 82.2 per cent. This, once again, brings a return to prices in excess of €200.
According to provisional data published by the Iberian Energy Market Operator (OMIE), and collected by Europa Press, the cost tomorrow will be an average of €217.26/MWh.
By time slots, the maximum price of electricity on January 10 will be between 7pm and 8pm, when it will reach €294.98/MWh. The minimum will be from 2am to 3am, at €158.70/MWh.
One year ago, the pool price for this corresponding Monday was €66.27, which makes tomorrow’s price an equivalent of 227.80 per cent more expensive than in 2020. Bear in mind that one year ago we were in the middle of storm Filomena, yet the cost was still €66.27/MWh
These rises in the electricity market are being blamed on high gas prices, and carbon dioxide (CO2) emission rights, both of which have hit record highs this year.
December closed with an average monthly price in the electricity wholesale market of €239.10, the highest in history, after exceeding the €200/MWh record set last October by more than €39, as reported by laopiniondemalaga.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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