The price of electricity in Spain on Tuesday, March 1

The average price of electricity in Spain on Tuesday, March 1, will be 512.3 per cent higher than last year

The average price of electricity in the wholesale market in Spain this Tuesday, March 1, will drop 6.88 per cent compared to today, Monday 28.

According to data published by the Iberian Energy Market Operator (OMIE), the average price of the ‘pool’ for this Tuesday will be €258.66/MWh, about €19 cheaper than today’s price of €277.78/MWh.

By time slots, the maximum electricity price tomorrow will be between 8pm and 9pm, standing at €315.87/MWh, while the minimum of €220.98/MWh, will be recorded between the hours of 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 .

Compared to just a year ago, the pool price for this Tuesday will be 512.3 per cent higher than the €42.24/MWh of March 1, 2021.

Data from Facua – Consumers in Action, show an increase in prices so far this month of 110.3 per cent compared to the same period last year. An average user in February “will experience the highest increase in the bill in history”, they commented.

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 in February of last year.

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Written by

Chris King

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. Got a news story you want to share? Then get in touch at [email protected]

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