By Chris King • 06 February 2022 • 23:39
The average price of electricity in the regulated market in Spain for this Monday, February 7, will increase by 8.4 per cent compared to today, Sunday 6.
According to provisional data published by the Iberian Energy Market Operator (OMIE), and collected by Europa Press, the average price of the ‘pool’ will be €206.46/MWh. That is about €16 more than the €190.47/MWh of this Sunday 6, and comes after three days of registering a price below €200/MWh.
To take advantage of the cheapest time slot, this will be during the early morning hours of 4 and 5am, costing €165.97/MWh. On the other hand, the slot to avoid will be between 7pm and 8pm, when the price will be €253.61/MWh.
The prices of the ‘pool’ have a direct impact on the regulated rate – the so-called PVPC – to which almost 11 million consumers in the country are linked, and serve as a reference for the other 17 million who have contracted their supply in the free market.
These rises in the electricity market in recent months are mainly explained by the high prices of gas in the markets, and of carbon dioxide (CO2) emission rights, both currently at all-time highs.
In fact, compared to just a year ago, the price in the pool for this Monday 7 will be 1,541.18 per cent higher than the €12.58 /MWh of the same date in 2021, as reported by abc.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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