By Chris King • 24 February 2022 • 21:44
The average price of electricity in the wholesale market in Spain this Friday, February 25, will rise by 16.7 per cent compared to today, Thursday 24. It is an increase that was expected after the outbreak of hostilities in Ukraine earlier this morning.
According to data provided by the European Internal Energy Market (OMIE), the average price this Friday will be €240.13/MWh, around €34.53 euros more expensive than this Thursday, which was at €205.60/MWh.
This price of €240.13/MWh is the highest average level registered by the ‘pool’ since last January 17.
By time slots, the maximum electricity price tomorrow will be between 7pm and 8pm, reaching €300/MWh, while the minimum of €153.32/MWh, will be recorded 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,
Data from Facua, the Consumers in Action association shows that an average user in February “will experience the highest increase in the electricity bill in history”. There has been an increase in prices so far this month of 110.3 per cent compared to the same period previously.
Specifically, with the prices of the first fourteen days of February, the monthly bill of an average user with the regulated rate – the so-called PVPC – would reach €130.56, compared to €62.08 euros in February last year, 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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