By Chris King • 03 March 2022 • 21:03
The average price of electricity in the wholesale market in Spain on Friday, March 4 will fall slightly (-0.24%) compared to this Thursday 3. Even so, it still becomes the fourth-highest daily price in history. This is linked to an increase in the cost of natural gas resulting from the conflict in Ukraine.
According to data published by the Operator of the Iberian Energy Market (OMIE) collected by Europa Press, the average price of the ‘pool’ this Friday will be €340.70/MWh, just €0.8 less expensive than this Thursday, which reached €341.52/MWh,
By time slots, the maximum price of electricity tomorrow will be between 8pm and 9pm, at €410/MWh, while the minimum, of €264.61/MWh, will be recorded between the hours of 5am and 6am.
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 average price in the wholesale market this Friday is only lower in the historical series than the maximums of last December, when on the 22nd it reached €360.02/MWh and on the 23rd hitting €383.67/MWh.
An average user with the regulated tariff should see a bill of around €131.29 for February, 111.5 per cent higher than the €62.08 euros of the same month 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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