By Chris King • 27 February 2022 • 21:25
The average price of electricity in the wholesale market in Spain will rise by 8.15 per cent this Monday, February 28, compared to today, Sunday 27. It produces the most expensive day of 2022 so far.
According to data published by the Market Operator Iberian Energy (OMIE), the average price of the ‘pool’ for this Monday is €277.78 /MWh, about €21 more expensive than today’s price of €256.84/MWh,
By time slots, the maximum price tomorrow will be between 8pm and 9pm, reaching €346/MWh, while the minimum of €218.97/MWh, will be recorded between 3pm and 4pm.
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.
An average user in February “will experience the highest increase in the bill in history”, according to data from Facua – Consumers in Action. There has been an increase in prices so far this month of 110.3 per cent, compared to the same period last year.
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 be €130.56, 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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