By Chris King • 13 February 2022 • 20:26
It is becoming a daily chore to check the price of electricity in Spain each day, in order to try and save more on household bills.
According to provisional data published by the Iberian Energy Market Operator (OMIE), collected by Europa Press, the average price of electricity in the wholesale market this Monday, February 14, will rise by 11.75 per cent compared to today, Sunday 13. It will reach an average of €183.32/MWh, about €20 euros more expensive than this Sunday,
By time slots, the maximum price will be between 7pm and 8pm, at €248.71/MWh, while the minimum of €105/MWh, will be registered between 4am and 5am.
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 of which are at all-time highs.
Compared to just a year ago, the price in the ‘pool’ for this Monday will be 1,270.10 per cent higher than the €13.38/MWh of February 14, 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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