By Chris King • 26 February 2022 • 20:55
The average price of electricity in the wholesale market (pool) in Spain this Sunday, February 27, stands at €256.84/MWh, representing a decrease of almost 2 per cent compared to this Saturday 26.
This price, although dropping slightly, is still nine times more than the €29.24/MWh of the same date in 2021.
According to data from the Iberian Electricity Market Operator (OMIE), the maximum price will be recorded between 8pm and 10pm, when it will be €350/MWh, while the minimum will be €209.14/MWh between the hours of 3pm and 5pm.
Thus, so far this month, the average price of electricity stands at €197.35/MWh, which is €40 less than the average of €239.22/MWh registered during the month of December, the most expensive month in history.
The prices registered in the wholesale market have a direct impact on the regulated tariff or PVPC, to which almost 11 million consumers in Spain are subscribed, and serves as a reference for the other 17 million who contract their supply in the free market.
Behind the increase in prices are the high prices of gas in international markets, and of carbon dioxide (CO2) emission rights, which since mid-2021 have been marking historical highs month after month.
As for the rest of the European countries, in the United Kingdom the megawatt-hour will be an average of 193.14 pounds (about €230), while in Germany it will be €182.41; in France, at €196.55; in Italy, at €202.54; and in Portugal, at the same price as in Spain by sharing the market, as reported by diariodesevilla.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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