By Chris King • 25 February 2022 • 20:21
The average price of electricity in the wholesale market in Spain will rise this Saturday, February 26 by 8.73 per cent compared to this Friday 25. A hike to even higher prices was inevitable following Russia’s invasion of Ukraine, with natural gas going up.
Specifically, for this Saturday, it will be an average of €261.11/MWh, about €21 more expensive than this Friday, which stands at €240.13/MWh.
By time slots, the maximum price tomorrow will be between 7pm and 8pm, at €300.70/MWh, while the minimum, of 237.14/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.
The electricity bill of an average user in February “will bring the highest increase in the bill in history”, with an increase in prices so far this month of 110.3 per cent compared to the same period in the past, according to data from Facua, the Consumers in Action association.
According to lasprovincias.es 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 euros, compared to €62.08 in February last year.
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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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