By Chris King • 17 February 2022 • 20:32
The average price of electricity in the wholesale market in Spain will increase this Friday, February 18 by 12.8 per cent compared to today, Thursday 17. This marks a return to an increase in the price, following two consecutive days of decreases.
According to data published by the Iberian Energy Market Operator (OMIE), the average price of the ‘pool’ this Friday will be €184.26/MWh,
By time slots, the maximum electricity price for this Wednesday will be between 8am and 9am, at €215/MWh, while the minimum of €146.86/MWh, will be recorded between 11pm and midnight.
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 currently at all-time highs.
Compared to just one year ago, the average price of electricity will be 409.3 per cent higher – almost five times more expensive – than the €36.18/MWh of February 18, 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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