January's most expensive Sunday yet for electricity in Spain

The price of electricity in Spain and Portugal on Tuesday, March 15. image: Wikipedia

January 16 will be the most expensive Sunday of the month for electricity so far

The average price of electricity in the wholesale market on Sunday, January 16, will drop slightly in comparison to Saturday 15. A drop of 2.61 per cent will be seen, although it will still be the most expensive Sunday of the month so far.

According to provisional data published by the Iberian Energy Market Operator (OMIE), specifically, Sunday 16 will register an average price of €213.10/MWh, almost six euros less than the €218.82/MWh of this Saturday 15.

By time slots, the maximum price of electricity for today, Sunday 16, will be between 7pm and 8pm, reaching a price of €265.36/MWh. The minimum of €186.60/MWh, will be recorded between 5am and 6am.

Compared to a year ago, the average price of electricity in the wholesale market for this Sunday will be 214 per cent more expensive than last January 16, 2021, when the price was €67.72/MWh.

The prices of the wholesale market have a direct impact on the regulated rate – the so-called PVPC -, to which almost 11 million consumers in the country are connected. This price serves as a reference for the other 17 million who have contracted their supply in the free market.

This rise in prices in the electricity market in recent months is mainly the result of the high prices of gas in the markets and carbon dioxide (CO2) emission rights, both of which are at all-time highs, 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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