By Chris King • 13 February 2022 • 4:46
The average price of electricity in Spain in the wholesale market will drop 17.54 per cent today, Sunday, February 13, compared to Saturday 12. This marks the second-largest drop of the year so far, after January 9, when it fell 41.39 per cent compared to the previous day.
According to provisional data published by the Iberian Energy Market Operator (OMIE), collected by Europa Press, the average price of the ‘pool’ this Sunday will be €164.04/MWh, almost €35 less than the €198.94/MWh this Saturday 12.
Sunday’s maximum price will be between 00:00 and 01:00am, at €220/MWh, while the minimum of €70/MWh, will be registered between 2pm and 3pm.
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 electricity prices since the middle of last year are explained mainly by the high prices of gas in the markets, and carbon dioxide (CO2) emission rights, both currently at all-time highs.
Compared to just a year ago, the price in the ‘pool’ for this Sunday will be 438 per cent higher than the €36.94/MWh of February 13, 2021.
2021 closed as the most expensive year for electricity in Spanish history, with an average price of €111.93/MWh, due to the upward spiral registered in the pool in the second half.
This January, the average daily market price was €201.72/MWh, 235.30 per cent higher than the average price for the same month last year, and 15.7 per cent lower than December 2021, as reported by lasprovincias.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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