By Chris King • 22 February 2022 • 20:49
Image of Met Office weather map.
The average price of electricity in the wholesale market in Spain will return to around the €200/MWh mark this Wednesday, February 23. It will increase by 8.97 per cent, rising to €195.86/MWh, a jump of €16 compared to today’s average of €179.74MW/h.
According to data published by the Market Operator Iberian Energy (OMIE), by time slots, the maximum electricity price for this Wednesday will be between 8pm and 9pm, costing €244.08/MWh, while the minimum, of €163.07/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 subscribed, and serve as a reference for the other 17 million who have contracted their supply in the free market.
These rise 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 one year ago, the average price of electricity in the wholesale market for this Wednesday will be 348.7 per cent higher than the €43.65/MWh of February 23, 2021, that is, almost four times more expensive, 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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